The key factor in the strengthening of the real exchange rate of the ruble in the 2000s was the transformation based growth of Russia's economy (the Balassa-Samuelson effect) coupled with the improving foreign trade conditions. As can be concluded on the basis of data for Q4 2014, for the...

The balance of payments for 2015 shows an increasing surplus in the current account balance, which has resulted from the shrinking deficit in the balance of services, the investment income balance and wages, coupled with the decreasing surplus in the trade balance. The accelerated weakening of...

In September, the Central Bank of Russia made a decision to cut the key rate by 0.5 p.p. to 10%. The intention of the Central Bank of Russia to stick to a moderately tough monetary policy is justified by the need to consolidate the trend towards sustained reduction of the rate of inflation