Template-Type: ReDIF-Paper 1.0 
Author-Name: Bozhechkova Alexandra 
Author-Name-First: Alexandra 
Author-Name-Last: Bozhechkova 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Author-Name: Trunin Pavel 
Author-Name-First: Pavel 
Author-Name-Last: Trunin 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Author-Name: Knobel Alexander 
Author-Name-First: Alexander 
Author-Name-Last: Knobel 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Title: Russia’s Monetary Policy in 2022 
Abstract: In  2022,  the  Russian  economy  experienced  a  profound  negative  shock associated  with  the  imposition  of  sanctions  against  Russia  by  a  number  of developed countries, including the freeze of the Bank of Russia’s international reserve assets, Russian banks being cut out of international payment systems, restrictions on imports of Russian goods and services and exports of technologies to Russia, and some other measures. The shock gave rise to pronounced instability in Russia’s financial market and forced the Central Bank of the Russian Federation to sharply tighten its monetary policy in order to prevent the outflow of funds from the banking system.
Classification-JEL: E31, E43, E44, E51, E52, E58 
Keywords: Russian economy, monetary policy, money market, exchange rate, inflation, balance of payments, fiscal policy 
Creation-Date: 2023 
Revision-Date: 2023 
Length: 18 pages 
File-URL: https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2023-1273.pdf 
File-Format: application/pdf 
File-Function: Revised Version, 2023 
Handle: RePEc:gai:ppaper:ppaper-2023-1273