IMF Staff Country Reports

Russian Federation: Selected Issues Paper

Publication Date:

September 27, 2011

Electronic Access:

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Summary:

This note focuses on Russia's monetary policy, which is moving toward low and stable inflation. This paper discusses two analytical measures to analyze the monetary policy—core inflation measure and a group of leading indicators model (LIM). The trimmed mean core inflation is a good indicator for analyzing trend inflation and can be used as a viable target for monetary policy. LIMs are widely used for inflation forecasting and are also useful in detecting turning points in inflation.

Series:

Country Report No. 2011/295

Subject:

Central banks Commodities Fiscal policy Inflation Oil Oil prices Prices Reserve assets

Notes:

Also available in Russian