Bank of Russia sees inflation out of monetary policy control
The Bank of Russia's fourth quarterly monetary policy report for 2013 takes a look back at its recent moves to become a more effective inflation targeter – reviewing changes to improve the transmission mechanism, while acknowledging the limitations of monetary policy.
The bank says that as "part of the transition to inflation targeting", in September it "adopted a series of measures to enhance the effectiveness of the interest rate channel of the monetary policy transmission mechanism. In
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