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Russia's Inflation and Monetary Policy in June 2015

2015; RELX Group (Netherlands); Linguagem: Inglês

10.2139/ssrn.2659493

1556-5068

Alexandra Bozhechkova,

Economic and Technological Developments in Russia

Both stabilized inflation and ruble exchange rate allowed the Bank of Russia Board of Directors to further cut the key interest rate to 11.50% p.a. on 15 June 2015. The cut was triggered by the fact that Russia’s economy was still facing serious downside risks amid lower risks of inflation. Consumer prices in June 2015 increased 0.2% (0.6% in June 2014), a decrease of 0.2 p.p. compared to May 2015. As a result, inflation in June 2015 was 15.3% compared to June 2014. The Consumer Price Index gained 0.9% in the first 20 days of July 2015, basically due to a rise in tariffs on natural monopolies’ services.