In November 2014, the Consumer Price Index (CPI) amounted to 1.3% (vs. 0.6% in November 2013), which is 0.5 p.p. above its value recorded in October. In response to the mounting panic in the foreign exchange market, from 16 December the Bank of Russia raised its key interest rate to 17% per...

Вследствие смещения баланса рисков в сторону существенного охлаждения экономики 13 марта 2015 г. на очередном заседании Совета директоров Банка России было...

Due to the fact that the balance of risks has moved towards a substantial cooling down of the economy, the Bank of Russia Board of Directors decided at its regular meeting on 13 March 2015 to lower by 1 p.p. the key interest rate to 14% p.a. In February 2015, the Consumer Price Index stood at...

The consumer price index stood at 0.7% in October 2014 (0.2% in September 2013), 0.5 p.p. higher than the value observed in August this year. Therefore, inflation increased to 8.0% on an annualized basis. The consumer price index reached 0.7% within the fi rst 20 days of October. On September 20...

The consumer price index stood at 0.8% in October 2014 (0.6% in October 2013), 0.1 p.p. higher than the value observed in September. As a result, inflation boosted up to 8.3% at an annualized rate. The consumer price index reached 1.0% as of the 24th day of November. The Bank of Russia decided...

On 15 January 2015, the Bank of Russia Board of Directors decided to reduce the key rate by 2 pp., to 15% per annum, due to the shift in the balance of risks of accelerated consumer price growth and an economic cooldown. In January 2015, the Consumer Price Index increased by 3.9% (vs. 0.6% in...

Вследствие изменения баланса рисков ускорения роста потребительских цен и охлаждения экономики 30 января 2015 г. на очередном заседании Совета директоров Банка...

The key factor in the strengthening of the real exchange rate of the ruble in the 2000s was the transformation based growth of Russia’s economy (the Balassa–Samuelson eff ect) coupled with the improving foreign trade conditions. As can be concluded on the basis of data for Q4 2014, for the...

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 consumer price index stood at 0.6% in October 2013 (against 0.5% in October 2012), having shown a 0.4 p.p. increase as compared to September 2013. Therefore inflation increased more than 6.3% on a year-over-year basis at the end of the 10-month period. In the first 18 days of November 2013...