Abstract
Just as the financial crisis began to make its impact felt in Russia, the Russian Central Bank altered its monetary policy, switching to an inflation-fighting strategy that made the interest rate a major anti-inflation weapon but also targeted the exchange rate. This brought the bank's strategy into line with those of other central banks. This new policy, a result of the "New Monetary Consensus" of the late 1980s, is analyzed in this article in the context of the Russian Central Bank's response to the worldwide financial crisis and the need to focus on a range of issues including the country's economic development, currency stabilization, and banking sector development.
Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
