On the Exchange Rate Policy

K. Yudaeva

Voprosy Ekonomiki, 2010, issue 1

Abstract: The level of trust in the local currency in Russia is very low largely because of relatively high inflation. As a result, Bank of Russia during crisis times can not afford monetary policy loosening and has to fight devaluation expectations. To change the situation in the post-crisis period Russia needs to live through a continuous period of low inflation. Modified inflation targeting can help achieve such a result. However, it should be amended with institutional changes, particularly development of hedging instruments.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2010:id:968

DOI: 10.32609/0042-8736-2010-1-21-28

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