Management of the Short-Term Interest Rate of the Money Market by the Bank of Russia and Interaction of the Monetary Authorities

Управление краткосрочной процентной ставкой денежного рынка Банком России и взаимодействие денежных властей

Vyacheslav Morgunov

Russian Economic Development, 2021, issue 7, 15-21

Abstract: The management of the banking sector’s liquidity and the short-term money market interest rate by the Bank of Russia is influenced by the structural liquidity surplus and the operations of the Federal Treasury of Russia to place temporarily free budget funds in credit institutions. The interaction of the two branches of the monetary authorities in Russia can be improved in order to manage the short-term interest rate of the money market more effectively.

Keywords: interest rate policy of the central bank; money market; key rate; Bank of Russia; Federal Treasury (search for similar items in EconPapers)
JEL-codes: E42 E43 E52 E58 E63 (search for similar items in EconPapers)
Date: 2021
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