FX Intervention and FX Reserves Management
4 Pages Posted: 13 Dec 2019
Date Written: October 31, 2019
Russia introduced its inflation targeting regime in 2015. Subsequently, fiscal policy was changed with a view to reducing the economy’s dependence on natural resource prices; these changes are known as “the fiscal rule”. At the same time, a financial stability policy and its instruments were developed. These changes in the monetary, fiscal and financial stability policies are the main factors that have influenced FX reserves accumulation and adequacy, intervention policy and reserves management in recent years.
Full Publication: Reserve Management and FX Intervention
Keywords: inflation targeting, fiscal rule, exchange rate, FX reserves
JEL Classification: E52, E58, E62, E63
Suggested Citation: Suggested Citation