Inflation and Monetary Policy in February
Russian Economic Developments. Moscow, 2015, #4, pp. 5-8
4 Pages Posted: 8 May 2015
Date Written: May 6, 2015
Due to the fact that the balance of risks has moved towards a substantial cooling down of the economy, the Bank of Russia Board of Directors decided at its regular meeting on 13 March 2015 to lower by 1 p.p. the key interest rate to 14% p.a. In February 2015, the Consumer Price Index stood at 2.2% (0.7% in February 2014), i.e., making it 1.7 p.p. below the value seen in January 2015. As a result, inflation increased to 16.7% year-over-year in February 2015. The CPI reached 0.7%. in the first 23 days of March 2015.
Keywords: Russian economy, inflation, monetary policy
JEL Classification: P24, E52
Suggested Citation: Suggested Citation