RUSSIA’S FOREX MARKET: NO PANIC OUTLOOK

Alexandra Bozhechkova and Pavel Trunin

Russian Economic Development, 2016, issue 1, 7-9

Abstract: The Bank of Russia on 11 December 2015 decided to keep the base interest rate unchanged at 11%, thus indicating that the bank will not move forward with easing monetary policy. Russia’s Central Bank on 14 December resumed 12-month foreign exchange repo auctions with a view to pushing down demand for foreign currency. Thus, the Bank of Russia aims to avoid turbulence in Russia’s fi nancial markets, which may occur in response to a new downturn of oil prices amid raised Fed target rates.

Keywords: INFLATION AND MONETARY POLICY; Russian Economy (search for similar items in EconPapers)
JEL-codes: E52 P24 (search for similar items in EconPapers)
Date: 2016
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