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Russia’S Inflation And Monetary Policy In June 2015

Author

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  • Alexandra Bozhechkova

    (Gaidar Institute for Economic Policy)

Abstract

Both stabilized inflation and ruble exchange rate allowed the Bank of Russia Board of Directors to further cut the key interest rate to 11.50% p.a. on 15 June 2015. The cut was triggered by the fact that Russia’s economy was still facing serious downside risks amid lower risks of inflation. Consumer prices in June 2015 increased 0.2% (0.6% in June 2014), a decrease of 0.2 p.p. compared to May 2015. As a result, inflation in June 2015 was 15.3% compared to June 2014. The Consumer Price Index gained 0.9% in the fi rst 20 days of July 2015, basically due to a rise in tariff s on natural monopolies’ services.

Suggested Citation

  • Alexandra Bozhechkova, 2015. "Russia’S Inflation And Monetary Policy In June 2015," Russian Economic Development, Gaidar Institute for Economic Policy, issue 8, pages 6-9, August.
    • Handle: RePEc:gai:recdev:560
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    More about this item

    Keywords

    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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