This paper deals with a "new" type of monetary policy making: Inflation Targeting (IT). It attempts to identify reasons for which countries might be inclined to adopt this framework for monetary policy. By reviewing recent experience of inflation targeting countries, the paper outlines the major...

The consumer price index stood at 0.6% in October 2013 (against 0.5% in October 2012), having shown a 0.4 p.p. increase as compared to September 2013. Therefore inflation increased more than 6.3% on a year-over-year basis at the end of the 10-month period. In the first 18 days of November 2013...

In August 2013, the Consumer Price Index (CPI) amounted to 0.1% (same as its level in August 2012), which is by 0.7 pp. lower than its value recorded in July 2013. Thus, the inflation rate in per annum terms, as seen by the results of the first 8 months of 2013, increased above 6.5%. Over the...

The Consumer Prices Index (CPI) in October 2015 continued to grow, up 0.6% (0.7% in October 2014), reaching 0.7% (0.8% in Oct. 2014). The Russian rouble's exchange rate in October strengthened a bit in response to both uptrend in the crude oil market as well as some geopolitical improvements....

The Russian currency in July-August saw further substantial depreciation in the exchange rate. The weakening of the ruble resulted largely in higher inflation and retained the central bank base rate at the level which was set in September at a meeting of the Central Bank Board of Directors. The...

In May 2014, the consumer price index stood at 0.9% (0.7% in May 2013), being equal to the value observed in the previous month. Therefore, inflation stood at 7.6% at the end of the 12-month period. The consumer price index reached 0.4% within 23 days in June 2014. as of June 1, 2014 banks' debt...

In November 2013, the Consumer Price Index (CPI) amounted to 0.6%, similar to October 2013 (vs. 0.3% in November 2012). As a result, the inflation rate in per annum terms, as seen by the results of the first 11 months of 2013, rose above 6.5%. Over the period from 1 December through 16 December,...

In Q1 2016, inflation slowed down both month-on-month and year-on-year, driven by further decline in internal demand amid a strengthening rouble, as well as due to the high base effect a year earlier. However, expectations for high inflation are still strong, which will stem decline in price...

Over the period March 2015 – February 2016, the growth rate of prices declined to 8.1%, while the corresponding index for February 2015 – January 2016 amounted to 9.8%. As demonstrated by the results of a survey published by the Bank of Russia, in February the median inflation expectation...

The consumer price index stood at 0.2% in August 2014 (0.1% in August 2013), 0.3 p.p. lower than the value observed in the preceding month. Therefore, inflation stood at 7.6% on an annualized basis. The consumer price index reached 0.5% within the first 22 days in September 2014. Banks' repo...