The RF Central Bank's Course is to Achieve Medium-Run Stability

Abstract

The Bank of Russia medium-run monetary policy course is to remain unchanged: the regulator will continue its efforts to bring the inflation rate down to 4% in 2017. This follows from the draft of the Guidelines for the Single State Monetary policy in 2016 and for 2017 and 2018. For this goal to become achievable under the existing conditions, the monetary authorities will have to maintain the key rate at its present-day level. The reasons for this state of affairs are the high inflation expectations and a slower decline in its rate than has been expected.

Keywords: Russian economy, central bank

JEL Classification: G1, G3, G15