Inflation and Monetary Policy in July 2014
Russian Economic Developments. Moscow, 2014, #9, pp. 6-9
4 Pages Posted: 23 Sep 2014
Date Written: September 23, 2014
The consumer price index stood at 0.5% in July 2014 (0.8% in July 2013), down by 0.1 p.p compared to the value observed in June 2014. Therefore, inflation stood at 7.5% on an annualized basis. The consumer price index reached 0.2% within 25 days in August. The Bank of Russia Board of Directors decided on July 25 to tighten the monetary policy. The baseline interest rate was lifted to 8% from 7.5% p.a.
Keywords: Russian economy, inflation, monetary policy
JEL Classification: P24, E52
Suggested Citation: Suggested Citation