The Analysis of the Russian Money Market In the Wake of the Epidemiological Crisis

Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2020. No. 11, pp. 12-15

4 Pages Posted: 10 Jul 2020

See all articles by Alexandra Bozhechkova

Alexandra Bozhechkova

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

Pavel Trunin

Gaidar Institute for Economic Policy

Date Written: July 9, 2020

Abstract

In March – the first decade of May 2020, amidst the acute phase of the epidemiological crisis the banking sector’s need in liquid funds increased considerably. It was justified by growth in the money supply volume, credit institutions’ correspondent account balances, as well as commercial banks’ mandatory reserves. However, as the economic situation commenced to stabilize from the second decade of May and the uncertainties were clearing up, the liquidity surplus began to grow again. To stabilize further the market, the Central Bank of Russia supplemented the list of instruments of ruble liquidity provision to credit institutions with one-month and one-year REPO auctions, however, amid the recovery of the level of liquidity they are not much in demand yet.

Keywords: Russian economy, money market, coronavirus pandemic

JEL Classification: G14, G14, G32, E44

Suggested Citation

Bozhechkova, Alexandra and Trunin, Pavel, The Analysis of the Russian Money Market In the Wake of the Epidemiological Crisis (July 9, 2020). Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development. Moscow. IEP. 2020. No. 11, pp. 12-15, Available at SSRN: https://ssrn.com/abstract=3647461 or http://dx.doi.org/10.2139/ssrn.3647461

Alexandra Bozhechkova (Contact Author)

Gaidar Institute for Economic Policy ( email )

Gazetny pereylok 3-5
Moscow, 125993
Russia

Russian Academy of National Economy and Public Administration under the President of the Russian Federation (RANEPA) - Institute of Applied Economic Research ( email )

Russia

Pavel Trunin

Gaidar Institute for Economic Policy ( email )

Gazetny pereulok, 3-5
Moscow, 125993
Russia

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