Christopher Granville

Director of Russia Research
+44 (0)20 3008 5762

Irina Lebedeva

Economist, Russia Research

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Recent Russia research

* Russia: Navalny trashes Medvedev - What it means, Christopher Granville, 29 Mar 2017
* Russia: Geopolitical driver – negative turn, Christopher Granville, 15 Mar 2017
* Russia: Jumbo tax reform, Christopher Granville, Madina Khrustaleva, 3 Mar 2017
* Russia: More good news on the macro-policy front, Christopher Granville, Madina Khrustaleva, 8 Feb 2017
* Russia: Pay attention to Kudrin, Christopher Granville, 31 Jan 2017

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One-legged inflation targeting

Overview

Russia’s disinflation is now supported by a sound interest-rate framework. But this newly found anti-inflationary zeal has not resolved the familiar exchange-rate dilemma. The 9 per cent appreciation of the ruble in real effective terms during the period January-April 2010 highlights the scale of the political and economic challenge ahead – when Russia follows its peers into the tightening cycle. At stake here is a pre-requisite for sustainable...

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