Abstract:Since 2014, the Bank of Russia has switched to a floating exchange rate and inflation targeting. From that moment the key interest rate, that is, the interest rate of the interbankmarket, became the main instrument of monetary policy in Russia. At the same time, the question arises: does the policy of the Bank of Russia really contribute to stabilizing inflation? In otherwords, it is important for policy makers, as well as private economic agents, to understandwhether the rate changes sufficiently to stabilize… Show more
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