Inflation and Monetary Policy in January 2015

Russian Economic Developments. Moscow, 2015, #3, pp. 4-8

5 Pages Posted: 1 Apr 2015

See all articles by Alexandra Bozhechkova

Alexandra Bozhechkova

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Date Written: March 30, 2015

Abstract

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

Bozhechkova, Alexandra, Inflation and Monetary Policy in January 2015 (March 30, 2015). Russian Economic Developments. Moscow, 2015, #3, pp. 4-8, Available at SSRN: https://ssrn.com/abstract=2587144 or http://dx.doi.org/10.2139/ssrn.2587144

Alexandra Bozhechkova (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereylok 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

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