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INFLATION AND MONETARY POLICY IN March 2014

Author

Listed:
  • Alexandra Bozhechkova

    (Gaidar Institute for Economic Policy)

Abstract

In March 2014, the Consumer Price Index (CPI) amounted to 1% (vs. 0.3% in March 2013), which represents a 0.3 p.p. rise on February 2014. As a result, the inflation rate in per annum terms, as seen by the results of the past 12 months, rose to about 6.9%. Over the period from 1 April through 21 April, the CPI climbed to 0.3%. On 3 March 2014, the Bank of Russia temporarily increased the key rate from 5.5% to 7% per annum. On 25 April 2014, Russia’s financial regulator again increased the key rate, to 7.5% per annum, thus continuing the toughening of monetary policy.

Suggested Citation

  • Alexandra Bozhechkova, 2014. "INFLATION AND MONETARY POLICY IN March 2014," Russian Economic Development, Gaidar Institute for Economic Policy, issue 5, pages 5-8, May.
    • Handle: RePEc:gai:recdev:324
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    More about this item

    Keywords

    INFLATION AND MONETARY POLICY;

    JEL classification:

    • P24 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - National Income, Product, and Expenditure; Money; Inflation
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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