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Inflation And Monetary Policy In Russia In December 2014

Author

Listed:
  • Alexandra Bozhechkova

    (Gaidar Institute for Economic Policy)

Abstract

Due to the turmoil in the foreign exchange market, the Bank of Russia lifted on the 16th of December the key interest rate up to 17% p.a. in an eff ort to stop the ruble’s rapid depreciation. In December 2014, the consumer price index stood at 2.6% (0.5% in December 2013 ), up 1.3 p.p. above the value seen in November. As a result, inflation went up to 11.4% on an annualized basis. The consumer price index reached 1.5% within the first 19 days in January 2015.

Suggested Citation

  • Alexandra Bozhechkova, 2015. "Inflation And Monetary Policy In Russia In December 2014," Russian Economic Development, Gaidar Institute for Economic Policy, issue 2, pages 5-8, February.
    • Handle: RePEc:gai:recdev:456
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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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