Beck, Roland; Barnard, Geoff - Economics Department, Organisation de Coopération et … - 2009
In the years preceding the onset of the global financial crisis, the Central Bank of Russia (CBR) had two goals: to … reduce inflation and limit the real appreciation of the rouble. Given the strength of Russia’s balance of payments during the … crisis in 2008-09 Russia’s monetary policy was initially constrained by a large degree of private debt dollarisation. After a …