INFLATION AND MONETARY POLICY IN RUSSIA IN DECEMBER 2014

Alexandra Bozhechkova

Russian Economic Development, 2015, issue 2, 5-8

Abstract: Due to the turmoil in the foreign exchange market, the Bank of Russia lifted on the 16th of December the key interest rate up to 17% p.a. in an eff ort to stop the ruble’s rapid depreciation. In December 2014, the consumer price index stood at 2.6% (0.5% in December 2013 ), up 1.3 p.p. above the value seen in November. As a result, inflation went up to 11.4% on an annualized basis. The consumer price index reached 1.5% within the first 19 days in January 2015.

Keywords: INFLATION; AND; MONETARY; POLICY (search for similar items in EconPapers)
JEL-codes: E52 P24 (search for similar items in EconPapers)
Date: 2015
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