{"title":"俄罗斯央行转向货币政策宽松","authors":"A. Bozhechkova, P. Trunin","doi":"10.2139/ssrn.3411527","DOIUrl":null,"url":null,"abstract":"At its June meeting, for the first time this year, the Bank of Russia Board of Directors decided to cut the key rate by 0.25 pp. to 7.5% per annum. Such a decision was motivated by the plunge of annual inflation in April-May 2019 to 5.1%, coupled with weakening inflation risks. The inflation forecast for 2019 has been revised, the target being reduced from 4.7–5.2% to 4.2–4.7%. The RF Central Bank expects that the annual inflation rate in 2020 will hover around 4%, and so it plans to roundup its transition to neutral monetary policy by the middle of the next year.","PeriodicalId":145273,"journal":{"name":"Monetary Economics: Central Banks - Policies & Impacts eJournal","volume":"24 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2019-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The Bank of Russia Switches Over to Monetary Policy Easing\",\"authors\":\"A. Bozhechkova, P. Trunin\",\"doi\":\"10.2139/ssrn.3411527\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"At its June meeting, for the first time this year, the Bank of Russia Board of Directors decided to cut the key rate by 0.25 pp. to 7.5% per annum. Such a decision was motivated by the plunge of annual inflation in April-May 2019 to 5.1%, coupled with weakening inflation risks. The inflation forecast for 2019 has been revised, the target being reduced from 4.7–5.2% to 4.2–4.7%. The RF Central Bank expects that the annual inflation rate in 2020 will hover around 4%, and so it plans to roundup its transition to neutral monetary policy by the middle of the next year.\",\"PeriodicalId\":145273,\"journal\":{\"name\":\"Monetary Economics: Central Banks - Policies & Impacts eJournal\",\"volume\":\"24 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2019-06-28\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Monetary Economics: Central Banks - Policies & Impacts eJournal\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.3411527\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Monetary Economics: Central Banks - Policies & Impacts eJournal","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.3411527","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The Bank of Russia Switches Over to Monetary Policy Easing
At its June meeting, for the first time this year, the Bank of Russia Board of Directors decided to cut the key rate by 0.25 pp. to 7.5% per annum. Such a decision was motivated by the plunge of annual inflation in April-May 2019 to 5.1%, coupled with weakening inflation risks. The inflation forecast for 2019 has been revised, the target being reduced from 4.7–5.2% to 4.2–4.7%. The RF Central Bank expects that the annual inflation rate in 2020 will hover around 4%, and so it plans to roundup its transition to neutral monetary policy by the middle of the next year.
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