Inflation and Monetary Policy in January 2015
Russian Economic Developments. Moscow, 2015, #3, pp. 4-8
5 Pages Posted: 1 Apr 2015
Date Written: March 30, 2015
On 15 January 2015, the Bank of Russia Board of Directors decided to reduce the key rate by 2 pp., to 15% per annum, due to the shift in the balance of risks of accelerated consumer price growth and an economic cool-down. In January 2015, the Consumer Price Index increased by 3.9% (vs. 0.6% in January 2014), which represented a 1.3 p.p. rise on December 2014. As a result, the inflation rate in per annum terms climbed to 15.0%. Over the course of the first 24 days of February 2015 the CPI rose by 1.9 p.p.
Keywords: Russian economy, Russian inflation, Russian monetary policy
JEL Classification: P24, E52
Suggested Citation: Suggested Citation