Inflation and Monetary Policy in October 2014
Russian Economic Developments. Moscow, 2014, #12, pp. 6-9
4 Pages Posted: 4 Jan 2015
Date Written: January 4, 2015
The consumer price index stood at 0.8% in October 2014 (0.6% in October 2013), 0.1 p.p. higher than the value observed in September. As a result, inflation boosted up to 8.3% at an annualized rate. The consumer price index reached 1.0% as of the 24th day of November. The Bank of Russia decided the 10th of November to discontinue the existing exchange rate formation mechanism, abandoning the interval of allowed values for the euro-dollar basket and regular interventions within currency trading band boundaries and beyond.
Keywords: Russian economy, Russia's inflation and monetary policy
JEL Classification: P24, E52
Suggested Citation: Suggested Citation