The Central Bank of Russia raised its benchmark policy rate by another 50bps to 5.5 percent during its June meeting, saying the economy is recovering faster than expected and inflation is developing above the bank's target. Policymakers also said more hikes would be needed over the coming months, as they were concerned about a more substantial and prolonged deviation of inflation upward from the target, due to increased inflationary pressure in the context of the completing economic recovery. Looking ahead, the central bank sees inflation rate returning to the Bank of Russia’s target in the second half of 2022 and will remain close to 4 percent 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 July of 2021.
Interest Rate in Russia is expected to be 6.00 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 6.50 in 12 months time. In the long-term, the Russia Interest Rate is projected to trend around 6.50 percent in 2022 and 6.00 percent in 2023, according to our econometric models.