Russia’s Monetary Policy in 2022

Alexandra Bozhechkova, Pavel Trunin and Alexander Knobel

Published Papers from Gaidar Institute for Economic Policy

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.

Keywords: Russian economy; monetary policy; money market; exchange rate; inflation; balance of payments; fiscal policy (search for similar items in EconPapers)
JEL-codes: E31 E43 E44 E51 E52 E58 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2023, Revised 2023
New Economics Papers: this item is included in nep-ban, nep-cis, nep-mac and nep-mon
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https://www.iep.ru/files/RePEc/gai/ppaper/ppaper-2023-1273.pdf Revised Version, 2023 (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:gai:ppaper:ppaper-2023-1273

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