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such issues at OFZ auctions and the consistent downward trend in inflation and inflation expectations. Despite the shift in non-residents’ demand towards high-duration securities, 2017

regions. Elvira Nabiullina provided straightforward and detailed answers to students’ questions about inflation targeting and key rate calculation, ruble exchange rate and factors affecting it,

06.2014 In November 2013, amid weak economic growth and low Eurozone inflation, the ECB eased its USA UK Germany Canada Japan Australia monetary policy

90 happened amid still falling investments in the en- ergy sector and inflation howering near 2%. 85 Canadian economy moved out of a technical 03.

hike 95 – further improvement in the labour market and reasonable confidence that inflation will return to 90 the 2% target over the medium term. In

hike – further improvement in the labour market and 100 reasonable confidence that inflation will return to the 2% target over the medium term. 95 In

regulator’s confidence in the US dollar, as % of start of period inflation’s returning to the 2% level over the mid- 120 term horizon

2013, amid weak economic government bonds, % p.a. growth and low Eurozone inflation, the ECB eased 5 its monetary policy by cutting the key rate

key rate. In March 2014, the Fed stopped unemployment targeting maintaining the inflation target of 2%. 4 US GDP growth in the second quarter of

key rate. In March 2014, the Fed stopped unemployment targeting maintaining the inflation 80 target of 2%. The Federal Open Market Commit- tee took decisions