Central banks strive to speak clearly and simply – this is critical to effectively targeting inflation. We assessed the comprehensibility of the Bank of Russia's communications using neural networks – it showed that the level of its texts is rather complicated for the public.
Central banks do not have tools to reduce inequality, but this does’t mean that they can do nothing to make a society more equitable. They are able to contribute to this goal by fulfilling their mandate, namely by keeping inflation low and preventing financial crises.
Designed its policy response during the Covid-19 crisis, the Russian central bank addressed the consequences and spillovers of all three shocks facing the Russian economy: the demand and supply shocks, increased asset price volatility, and a collapse of oil prices.