The IMF today encouraged the Bank of Russia to keep monetary policy "geared towards achieving inflation objectives" and warned that providing stimulus could "jeopardise newly minted macroeconomic anchors".
Russian annual growth fell to 1.6% in May, and analysts have suggested the central bank is coming under pressure to accord greater priority to growth in its policy-making.
In its latest Article IV consultation with Russia, released today, the IMF attributes the decline in economic activity to
- James Bullard on 2% rates, tariffs and Fed leadership
- Turkish central bank raises overnight rates in bid to stop lira’s fall
- Next financial crisis “will be brewing” in shadow banking – Bullard
- Policies must change to stop emerging markets crisis, analysts say
- Podcast: David Hendry and John Muellbauer on empirical macro