Template-Type: ReDIF-Article 1.0
Author-Name:Morgunov V.
Author-Name-First: V. 
Author-Name-Last:Morgunov 
Author-Workplace-Name: Gaidar Institute for Economic Policy 
Title: Bank of Russia liquidity management of the Banking sector: observations based on the past three years experience 
Abstract: Short-term money market interest rate management within the framework of symmetrical interest rate band is based on central bank open market operations that aim to compensate for a structural deficit and surplus of liquidity in the banking sector to make sure that the money market overnight interest rate is close to the middle of the interest rate band. The Bank of Russia practice in this form of management amid structural deficit of liquidity over the past three years has shown that the period average money market interest rate has been above the key interest rate by more than 0.5 percentage points in half of 14 key rate periods.
Classification-JEL: E21, E41, E51, E58, G21
Keywords:  Banking sector, Russian Economy
Year: 2016
Issue:9
Month: September
Pages: 38-42
File-URL: https://iep.ru/files/RePEc/gai/recdev/recdev-2016-9-724.pdf
File-Format: application/pdf
File-Function: Revised version, 2016
Handle: RePEc:gai:recdev:recdev-2016-9-724