Monetary policy methods to be ‘counter-indicative’ for Russia

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The Central Bank of Russia (CBR) is still committed to a conservative policy of inflation targeting and believes unconventional monetary policy instruments are counter-indicative for Russia in the current circumstances, CBR deputy governor Alexei Zabotkin said the Treasury international banking forum.

He was responding to a question from the moderator about whether the CBR planned to move away from the classic policy of inflation targeting through the overnight rate, and target longer rates through long-term OFZ federal bonds or swaps..








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