Template-type: ReDIF-Article 1.0
Author-Name: Alexandra V. Bozhechkova
Author-Workplace-Name: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Author-Name: Pavel V. Trunin
Author-Workplace-Name: Gaidar Institute for Economic Policy; Russian Presidential Academy of National Economy and Public Administration
Title: Key Rate of the Bank of Russia Has Hit Maximum Value since 2017
Title: Ключевая ставка Банка России достигла максимума с 2017 г.
Abstract: The key rate of the Central Bank of the Russian Federation has been raised by 1 p.p. to 8.5% per annum. It has reached its maximum value since 2017. This is due to the acceleration of inflation on the back of the expansion of demand in the face of continuing problems with goods and services supply. By the end of November 2021, inflation in annual terms came to 8.4% and approached record values over the past 5 years. Given the inertia of inflation, it will remain above the target of 4% for a long time and will return to it no earlier than the end of 2022 – the beginning of 2023.
Keywords: inflation, monetary policy, key rate, capital outflow, Bank of Russia
Classification-JEL: E31, E52, F31
Journal: Russian Economic Developments
Year: 2022
Issue: 1
Month: January
Pages: 9-12
File-URL: http://www.iep.ru/files/RePEc/gai/recdev/r2202.pdf
File-Format: Application/pdf
Handle: RePEc:gai:recdev:r2202