V knige analizirujutsja osnovnye problemy ėkonomiki i principialʹno važnye voprosy ėkonomičeskoj politiki 2008-2018 gg., dostiženija, adaptacionnye mechanizmy, a takže problemy i riski ėtich let (DE-1a)

The beginning of this year was characterized by a slow increase in consumer prices, stability in the forex market, and continuing monetary policy easing. However, the situation has changed dramatically as a result of the impact on the economy of two major interconnected shocks: a slowdown in the...

The Bank of Russia medium-run monetary policy course is to remain unchanged: the regulator will continue its efforts to bring the inflation rate down to 4% in 2017. This follows from the draft of the Guidelines for the Single State Monetary policy in 2016 and for 2017 and 2018. For this goal to...

In 2016, the Bank of Russia implemented a conservative monetary policy aimed at mitigating inflation. Commercial banks decreased their demand for central bank refinancing as the Reserve Fund was spent, in which case the central bank had to employ a set of instruments to prevent an increase in...

On 30 April 2015, the Bank of Russia reduced the key interest rate from 14% to 12.5% per annum, noting in this connection that the inflation risks had become less pronounced, but that the risks of a more significant cooling of the economy were still there. By all indications, the RF Central Bank...

In June, the Russian Central Bank, for the first time since summer 2015, decided to reduce the key interest rate by 0.5 percentage points, to 10.5%. The decline in inflation expectations, further slowdown in inflation and stabilization of the external environment, together with the...

The Bank of Russia decided in June to keep the key interest rate unchanged because of worsening geopolitical uncertainty, capital outflows from developing countries as a consequence of tighter US Fed's monetary policy, plans to raise the VAT rate, as well as prices adjustment to a weaker rouble....

The Bank of Russia eased at slow enough pace its monetary policy in 2017 despite substantial deceleration in inflation, holding that ongoing inflation risks were high, including a possible decline in crude oil prices and capital outflow, upturn in consumer demand, fiscal policy uncertainty, as...