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Russian Federation: Selected Issues
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2007: Issue 352
Language:
English
Publication Date:
23 Oct 2007
DOI:
https://doi.org/10.5089/9781451833157.002
ISBN:
9781451833157
ISSN:
1934-7685
Pages:
55
Keywords:
ISCR; CR; public expenditure; expenditure efficiency; exchange rate shock; producer price inflation; inflation expectation; surprise inflation shock; Inflation; Health care spending; Africa; Central and Eastern Europe
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This Selected Issues paper on the Russian Federation underlies inflation persistence and evolution in response to structural shocks. Inflation in Russia has been characterized by a considerable degree of persistence. An explicit inflation-targeting framework may help reduce firms’ uncertainty about the future. This, in turn, may allow firms to be more forward-looking, thereby reducing persistence. The exchange rate is the Central Bank of Russia’s (CBR) main policy instrument for controlling inflation. Allowing more nominal appreciation would help to keep inflation on a downward path and better anchor inflation expectations.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund