Russia's Inflation and Monetary Policy in June 2015
Russian Economic Developments. Moscow, 2015, #8, pp. 6-9
4 Pages Posted: 13 Sep 2015
Date Written: September 12, 2015
Both stabilized inflation and ruble exchange rate allowed the Bank of Russia Board of Directors to further cut the key interest rate to 11.50% p.a. on 15 June 2015. The cut was triggered by the fact that Russia’s economy was still facing serious downside risks amid lower risks of inflation. Consumer prices in June 2015 increased 0.2% (0.6% in June 2014), a decrease of 0.2 p.p. compared to May 2015. As a result, inflation in June 2015 was 15.3% compared to June 2014. The Consumer Price Index gained 0.9% in the first 20 days of July 2015, basically due to a rise in tariffs on natural monopolies’ services.
Keywords: Russian economy, inflation, monetary policy, central banks
JEL Classification: P24, E52
Suggested Citation: Suggested Citation