INFLATION AND MONETARY POLICY IN JULY 2015

Alexandra Bozhechkova

Russian Economic Development, 2015, issue 9, 5-8

Abstract: The Bank of Russia Board of Directors decided on 31 July 2015 to further cut the base rate to 11.0% p.a., or by 0.5 p.p., because risk balances had shifted towards economic downturn. Consumer prices in July 2015 increased 0.8% (0.5% in July 2014), showing a growth of 0.6 p.p. compared to the value seen in June 2015. As a result, inflation in July 2015 reached 15.6% compared to that in July 2014. The Consumer Price Index gained 0.1% in the fi rst 24 days of August 2015.

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