Monetary Policy of the Russian Central Bank: Risks and Limitations

Russian Economic Developments. Moscow. 2016, No 7, pp. 10-12

3 Pages Posted: 29 Jul 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

Anna Kiyutsevskaya

Center for Macroeconomic Research, Alfa Bank

Pavel Trunin

Gaidar Institute for Economic Policy

Date Written: July 28, 2016

Abstract

In June, the Russian Central Bank, for the first time since summer 2015, decided to reduce the key interest rate by 0.5 percentage points, to 10.5%. The decline in inflation expectations, further slowdown in inflation and stabilization of the external environment, together with the strengthening of the rouble, allowed the Bank of Russia to soften the monetary policy.

Keywords: Russian economy, monetary policy, central banks

JEL Classification: P24, E52

Suggested Citation

Bozhechkova, Alexandra and Kiyutsevskaya, Anna and Trunin, Pavel, Monetary Policy of the Russian Central Bank: Risks and Limitations (July 28, 2016). Russian Economic Developments. Moscow. 2016, No 7, pp. 10-12, Available at SSRN: https://ssrn.com/abstract=2815471 or http://dx.doi.org/10.2139/ssrn.2815471

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

Anna Kiyutsevskaya

Center for Macroeconomic Research, Alfa Bank ( email )

Moscow
Russia

Pavel Trunin

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

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