The Central Bank of Russia raised its benchmark policy rate by 100bps to 8.5% during its December meeting, the highest since September 2017 and in line with expectations. The Russian central bank has been steadily raising rates this year to contain rising price pressures. If the situation develops in line with the baseline forecast, the Bank of Russia holds open the prospect of further key rate increase at its upcoming meetings. Based on the Bank of Russia’s forecast, given the monetary policy stance, annual inflation will edge down to 4.0–4.5% by late 2022 and will remain close to 4% further on. source: Central Bank of Russia
Interest Rate in Russia averaged 7.13 percent from 2003 until 2021, 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 January of 2022.
Interest Rate in Russia is expected to be 8.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Russia Interest Rate is projected to trend around 7.50 percent in 2022 and 6.50 percent in 2023, according to our econometric models.