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InterviewsOctober 1 2013

Challenges and opportunities for Russia's evolving central bank

A new inflation targeting framework, efforts to improve the supply of credit and the implementation of Basel III all pose challenges for the Bank of Russia, as well as opportunities to modernise the country's financial system.
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Challenges and opportunities for Russia's evolving central bank

The Bank of Russia’s monetary policy goal is to ensure the stability of the rouble by maintaining price stability, thereby forming the conditions for balanced and sustainable economic growth. The Bank of Russia pursues monetary policy considering the current development and future prospects of the Russian economy and taking into account global economic trends.

In 2013, monetary policy has been implemented against a backdrop of high inflation, which exceeds the existing target of 5% to 6%, and slowing economic growth caused by lower investment and external demand. In the second half of the year, inflation is expected to decrease provided there are no negative shocks in the food market.

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