THE RUBLE EXCHANGE RATE: FACTORS AND CONSEQUENCES OF CHANGE

January 15, 2020, 17:00 – 19:00, Building 2, Floor 2, Lecture Room 137

The discussion about the optimal ruble exchange rate and the most effective exchange rate policy has not subsided over several decades. Recent trends, including geopolitical tensions, imbalances in the global oil market, the transition of the Bank of Russia to a floating ruble exchange rate and inflation targeting mode, the introduction of a new budget rule, make the study of factors of ruble exchange rate dynamics and the effects of exchange rate fluctuations on macroeconomic stability and real business activity more urgent.

Issues for Discussion

  • The ruble exchange rate in the conditions of the budget rule.
  • Convert ruble exchange rate pass-through and macroeconomic stability.
  • Pure vs. hybrid inflation targeting.
  • Prospects of the exchange rate policy of the Bank of Russia.

Moderator

  • Pavel Trunin
    Pavel Trunin

    Leading Research Fellow of the Center of Macroeconomic Research at RANEPA

Experts

  • Alexandra Bozhechkova
    Alexandra Bozhechkova

    Head of the Laboratory of Monetary Policy, Macroeconomics and Finance Research Division, Gaidar Institute for Economic Policy

  • Evsey Gurvich
    Evsey Gurvich

    Head of the Center for Budget Analysis and Forecasting at the Financial Research Institute, Ministry of Finance of the Russian Federation

  • Aleksandr Isakov
    Aleksandr Isakov

    Chief Economist at VTB Capital in Russia and CIS

  • Filipp Kartaev
    Filipp Kartaev

    Head of the Department of Mathematical Methods of Economic Analysis, Faculty of Economics, Lomonosov Moscow State University

  • Darya Menshikh
    Darya Menshikh

    Analyst, Center for Economic Forecasting, Department of Strategic Development and Economic Forecasting, Gazprombank

  • Alexander Morozov
    Alexander Morozov

    Director, Research and Forecasting Department, Central Bank of the Russian Federation

  • Oleg Solntsev
    Oleg Solntsev

    Head of the Division for Analysis of Monetary Policy and Banking Sector at the Center for Macroeconomic Analysis and Short-Term Forecasting

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The discussion about the optimal ruble exchange rate and the most effective exchange rate policy has not subsided over several decades. Recent trends, including geopolitical tensions, imbalances in the global oil market, the transition of the Bank of Russia to a floating ruble exchange rate and inflation targeting mode, the introduction of a new budget rule, make the study of factors of ruble exchange rate dynamics and the effects of exchange rate fluctuations on macroeconomic stability and real business activity more urgent.

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The discussion about the optimal ruble exchange rate and the most effective exchange rate policy has not subsided over several decades. Recent trends, including geopolitical tensions, imbalances in the global oil market, the transition of the Bank of Russia to a floating ruble exchange rate and inflation targeting mode, the introduction of a new budget rule, make the study of factors of ruble exchange rate dynamics and the effects of exchange rate fluctuations on macroeconomic stability and real business activity more urgent.

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  • Convert ruble exchange rate pass-through and macroeconomic stability.
  • Pure vs. hybrid inflation targeting.
  • Prospects of the exchange rate policy of the Bank of Russia.
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  • The ruble exchange rate in the conditions of the budget rule.
  • Convert ruble exchange rate pass-through and macroeconomic stability.
  • Pure vs. hybrid inflation targeting.
  • Prospects of the exchange rate policy of the Bank of Russia.
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  • The ruble exchange rate in the conditions of the budget rule.
  • Convert ruble exchange rate pass-through and macroeconomic stability.
  • Pure vs. hybrid inflation targeting.
  • Prospects of the exchange rate policy of the Bank of Russia.
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The discussion about the optimal ruble exchange rate and the most effective exchange rate policy has not subsided over several decades. Recent trends, including geopolitical tensions, imbalances in the global oil market, the transition of the Bank of Russia to a floating ruble exchange rate and inflation targeting mode, the introduction of a new budget rule, make the study of factors of ruble exchange rate dynamics and the effects of exchange rate fluctuations on macroeconomic stability and real business activity more urgent.

)