Template-Type: ReDIF-Article 1.0
Author-Name:Alexandra Bozhechkova
Author-Name-First:Alexandra 
Author-Name-Last: Bozhechkova
Author-Workplace-Name:  Gaidar Institute for Economic Policy
Title: INFLATION AND MONETARY POLICY IN RUSSIA IN JANUARY 2016
Abstract: The Consumer Price Index (CPI) in January 2016 advanced 1.0% (3.9% in
January 2015) and the January median one-year ahead expected inflation
rate increased 0.3 percentage points to 16.7%, reaching the highest value
since February 2015 when the median one-year ahead expected inflation rate
was driven up to 18.1% by the ruble’s devaluation in late 2014/early 2015.
Overall, the Russian ruble’s real effective exchange rate is now relatively fundamentally
substantiated owing to a free-floating exchange rate regime in
the Russian foreign exchange market which faces neither interventions by the
Bank of Russia nor panic sentiments of economic agents. We do not anticipate
the ruble to depreciate considerably unless new shocks kick in.
Classification-JEL:P24, E52  
Keywords: INFLATION AND MONETARY POLICY,  Russian Economy
Journal: Russian Economic Developments
Year: 2016
Issue: 3
Month: March
Pages: 7-10
File-URL: http://www.iep.ru/files/RePEc/gai/recdev/696Bozhechkova.pdf
File-Format: Application/pdf
Handle: RePEc:gai:recdev:696