Inflation and Monetary Policy in March 2015
Russian economic Developments. Moscow, 2015, #5, pp. 2-6
5 Pages Posted: 29 May 2015
Date Written: May 27, 2015
Due to a shift in the balance of risks towards a more significant cooling of the economy, at the Bank of Russia Board of Directors’ meeting on 13 March 2015 it was decided that the key interest rate should be reduced by 1 p.p. – to 14% per annum. In March 2015, the Consumer Price Index’s growth amounted to 1.2% (vs. 1.0% in March 2014), which is 1 p.p. below its value recorded in February 2015. As a result, the inflation index increased in March 2015 on March 2014 by 16.9%. Over the first 20 days of April 2015, the Consumer Price Index’s growth amounted to 0.5%.
Keywords: Russian economy, inflation, monetary policy
JEL Classification: P24, E52
Suggested Citation: Suggested Citation