The Central Bank of the Russian Federation

Another Step Made in the Unwinding of Last Year’s Russian Monetary Tightening

July 31, 2015

Russia is grappling with a bad case of stagflation that combines a deepening recession with inflation that’s above 15% and still cresting.  The ruble’s vulnerability magnifies the central bank’s difficult task balancing these two extremes.  The emphasis in 2014 was on fighting inflation, but in 2015 officials have switched the stress back to growth.  In […] More