Inflation and Monetary Policy in July 2015
Russian Economic Developments. Moscow, 2015, #9, pp. 5-8
4 Pages Posted: 29 Sep 2015
Date Written: September 27, 2015
The Bank of Russia Board of Directors decided on 31 July 2015 to further cut the base rate to 11.0% p.a., or by 0.5 p.p., because risk balances had shifted towards economic downturn. Consumer prices in July 2015 increased 0.8% (0.5% in July 2014), showing a growth of 0.6 p.p. compared to the value seen in June 2015. As a result, inflation in July 2015 reached 15.6% compared to that in July 2014. The Consumer Price Index gained 0.1% in the first 24 days of August 2015.
Keywords: Russian economy, inflation, monetary policy
JEL Classification: P24, E52
Suggested Citation: Suggested Citation