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821
21.03.2025
need a cryptocurrency reserve?
Elvira NABIULLINA:
I believe that the issue of reserves is somewhat different in a country that issues the reserve currency than
of Inflation Persistent? Evidence from a Novel
Decomposition of PCE Inflation. Federal Reserve Bank of Boston Current Policy Perspectives. November 4, 2022.
5 TALKING TRENDS
International Reserves of the Russian Federation*.......................................................................................................................... 15
1.8. International Reserves and Foreign Currency Liquidity — Russia................................................................................................... 16
1.9. International Reserves Adequacy (International Reserves in
2024 2025 2026 2027
Foreign assets (excluding reserves) Foreign liabilities Change in reserves Financial account balance (including reserves)
* In the balance item, ‘–’ denotes net borrowing
five reserve currencies. SDRs can be acquired by
countries to fulfil their obligations to the IMF or sold to adjust the structure of international reserves.
International Reserves of the Russian Federation*.......................................................................................................................... 16
1.8. International Reserves and Foreign Currency Liquidity — Russia................................................................................................... 17
1.9. International Reserves Adequacy (International Reserves in
declined and the spread expanded at the
end of the December required reserves (RRs) averaging period2 (AP). Banks reduced their demand
for liquidity, as they
balance, excluding reserve assets 47 55 40 32
Net incurrence of liabilities 6 -1 0 4
Net acquisition of financial assets, excluding reserve assets 54
829
14.02.2025
crystal ball, but nevertheless, rate hikes by central banks with reserve currencies, primarily the Federal Reserve and the European Central Bank, have been painful for
of Inflation Persistent? Evidence from a Novel
Decomposition of PCE Inflation. Federal Reserve Bank of Boston Current Policy Perspectives. November 4, 2022.
8 TALKING TRENDS