Russian Federation: Selected Issues
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Summary:
This Selected Issues paper on the Russian Federation underlies inflation persistence and evolution in response to structural shocks. Inflation in Russia has been characterized by a considerable degree of persistence. An explicit inflation-targeting framework may help reduce firms’ uncertainty about the future. This, in turn, may allow firms to be more forward-looking, thereby reducing persistence. The exchange rate is the Central Bank of Russia’s (CBR) main policy instrument for controlling inflation. Allowing more nominal appreciation would help to keep inflation on a downward path and better anchor inflation expectations.
Series:
Country Report No. 2007/352
Subject:
Education Expenditure Health Health care spending Inflation Prices
English
Publication Date:
October 23, 2007
ISBN/ISSN:
9781451833157/1934-7685
Stock No:
1RUSEA2007002
Pages:
55
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