Inflation and Monetary Policy in Russia in January 2016

Russian Economic Developments. 2016, Moscow, IEP Publishers, No 3, pp. 7-10

4 Pages Posted: 2 Apr 2016

See all articles by Alexandra Bozhechkova

Alexandra Bozhechkova

Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research

Date Written: April 1, 2016

Abstract

The Consumer Price Index (CPI) in January 2016 advanced 1.0% (3.9% in January 2015) and the January median one-year ahead expected inflation rate increased 0.3 percentage points to 16.7%, reaching the highest value since February 2015 when the median one-year ahead expected inflation rate was driven up to 18.1% by the ruble’s devaluation in late 2014/early 2015. Overall, the Russian ruble’s real effective exchange rate is now relatively fundamentally substantiated owing to a free-floating exchange rate regime in the Russian foreign exchange market which faces neither interventions by the Bank of Russia nor panic sentiments of economic agents. We do not anticipate the ruble to depreciate considerably unless new shocks kick in.

Keywords: Russian economy, inflation, monetary policy, money supply

JEL Classification: P24, E52

Suggested Citation

Bozhechkova, Alexandra, Inflation and Monetary Policy in Russia in January 2016 (April 1, 2016). Russian Economic Developments. 2016, Moscow, IEP Publishers, No 3, pp. 7-10, Available at SSRN: https://ssrn.com/abstract=2757594 or http://dx.doi.org/10.2139/ssrn.2757594

Alexandra Bozhechkova (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereylok 3-5
Moscow, 125993
Russia

Russian Presidential Academy of National Economy and Public Administration (RANEPA) - Institute of Applied Economic Research ( email )

Russia

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
23
Abstract Views
285
PlumX Metrics