The Bank of Russia lowered its benchmark one-week repo rate by another 25 bps to 4.25 percent during its July meeting, saying inflation expectations have stabilized following a decrease in May-June. It was the fourth rate cut this year, aiming to support the economy hit by the coronavirus pandemic. Policymakers believe the recovery will be only gradual and that there is a risk that in 2021 inflation might deviate downwards from the 4 percent target. The central bank also said that annual inflation will probably reach 3.7-4.2 percent in 2020, 3.5-4.0 percent in 2021 and will stand close to 4 percent later on. Officials also said they will consider the necessity of further key rate reduction at its upcoming meetings.
Interest Rate in Russia averaged 7.25 percent from 2003 until 2020, reaching an all time high of 17 percent in December of 2014 and a record low of 4.25 percent in July of 2020. This page provides the latest reported value for - Russia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Russia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Central Bank of Russia
Interest Rate in Russia is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Russia to stand at 4.00 in 12 months time. In the long-term, the Russia Interest Rate is projected to trend around 4.50 percent in 2021 and 5.50 percent in 2022, according to our econometric models.