Christopher Granville

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

Irina Lebedeva

Economist, Russia Research

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Recent Russia research

* Russia: Domestic funds flow into capital markets, Christopher Granville, Madina Khrustaleva, 30 Nov 2017
* Russia: Putin’s future: Politics and policy, Christopher Granville, Madina Khrustaleva, 3 Nov 2017
* Russia: Nabiullina takes the controls, 11 Oct 2017
* Russia: US sanctions – a contrarian case, Christopher Granville, 28 Jul 2017
* Russia: Rates outlook – the key revealed, Christopher Granville, Madina Khrustaleva, 20 Jul 2017

See all our Russia research >>

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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