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The main areas of monetary policy: price stability, resistance to shocks

Author

Listed:
  • Drobyshevsky Sergey

    (Gaidar Institute for Economic Policy)

  • Trunin Pavel

    (Gaidar Institute for Economic Policy)

  • Goryunov Evgeny

    (Gaidar Institute for Economic Policy)

Abstract

The draft Guidelines for the Single State Monetary Policy (hereinafter – the Draft) prepared by the Bank of Russia does not involve significant changes in monetary policy in the upcoming mid-term period. Russian monetary authorities see their main task in maintaining price stability and improving financial sector resilience to possible macroeconomic shocks. The Bank of Russia does not give up the goal of reducing consumer inflation to 4% by the end of 2017, so the regulator plans to maintain a moderately tight monetary policy. There are no plans for active intervention in the foreign exchange market, and the exchange rate will remain floating.

Suggested Citation

  • Drobyshevsky Sergey & Trunin Pavel & Goryunov Evgeny, 2016. "The main areas of monetary policy: price stability, resistance to shocks," Russian Economic Development, Gaidar Institute for Economic Policy, issue 12, pages 2-5, December.
    • Handle: RePEc:gai:recdev:recdev-2016-12-799
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    File Function: Revised version, 2016
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    Cited by:

    1. Gautam Negi, 2021. "Fiscal Impulse And Sectoral Output €“ Evidence From Indian States," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 28, pages 151-167, December.

    More about this item

    Keywords

    INFLATION AND MONETARY POLICY; Russian Economy;

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers

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