On the Main Directions of the Unified State Monetary Policy for 2025 and the Period 2026 and 2027: Opinion of Experts of the Financial University

The subject of the study is the tasks, principles, measures and tools, and macroeconomic consequences of the unified state monetary policy in Russia in 2025–2027, taking into account the current state of the economy and forecasts of its development in the medium term. The purpose of the work is, based on the examination and analysis of the “Main directions of the unified state monetary policy for 2025 and the period 2026 and 2027”, approved by the Board of Directors of the Bank of Russia on October 30, 2024, to identify the features and problems of monetary policy formation and implementation in the medium term to ensure sustainable economic development of the country through increased the contribution of monetary policy to the economic development of Russia, aimed at the structural restructuring of the economy, activation of internal growth factors. The article establishes that monetary policy in the medium term will be countercyclical in nature and will not have a clear and direct goal-setting solution to the most important national economic task of ensuring balanced and sustainable economic growth. Special attention is paid to the problems of modern monetary policy principles, the effects of its transmission mechanism, and the communication policy of the Bank of Russia. It is concluded that the “Main directions of the unified state monetary policy for 2025 and the period 2026 and 2027” deserve a positive assessment, taking into account the comments and recommendations formulated by the experts of the Financial University.