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Inflation And Monetary Policy In July 2015

Author

Listed:
  • Alexandra Bozhechkova

    (Gaidar Institute for Economic Policy)

Abstract

The Bank of Russia Board of Directors decided on 31 July 2015 to further cut the base rate to 11.0% p.a., or by 0.5 p.p., because risk balances had shifted towards economic downturn. Consumer prices in July 2015 increased 0.8% (0.5% in July 2014), showing a growth of 0.6 p.p. compared to the value seen in June 2015. As a result, inflation in July 2015 reached 15.6% compared to that in July 2014. The Consumer Price Index gained 0.1% in the fi rst 24 days of August 2015.

Suggested Citation

  • Alexandra Bozhechkova, 2015. "Inflation And Monetary Policy In July 2015," Russian Economic Development, Gaidar Institute for Economic Policy, issue 9, pages 5-8, September.
    • Handle: RePEc:gai:recdev:576
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    More about this item

    Keywords

    INFLATION AND MONETARY POLICY; Russian economy;

    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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