Guidelines for the Development of the Russian Financial Market
Bank of Russia
BANK OF RUSSIA: OVERVIEW
The Central Bank of the Russian Federation
EVOLUTION (2)
Monetary policy framework development
2006
Inflation targeting
announced
Inflation targeting is
represented as a
midterm goal in the
"Monetary Policy
Guidelines"
1998-2008
Narrow band
2008
2009
Active inflation
targeting
communications
Liquidity
management
Instruments are
developed, the
interest rate corridor
is narrowed
Monetary policy framework development
Exchange rate regime development
2012
2013
Transition deadline
Key rate introduced
set
"Floating rate and
inflation targeting
by 2015"
2008 - 2014
Flexible band
2014
Floating exchange
rate introduced
5
Dec. 2017
Inflation is around 4%
2015
Transition to the
inflation targeting
regime is completed
Since Nov. 2014
Free floating RubleView entire presentation