The Central Bank of Russia raised its benchmark interest rate by 50bps to 5.0 percent during its April meeting, compared with market expectations of a 25bps hike, saying that the rapid recovery of demand and elevated inflationary pressure called for an earlier return to neutral monetary policy. Policymakers reiterated they will consider further rate increases at the upcoming meetings. Looking ahead, the central bank sees inflation rate at 4.7-5.2 percent in 2021, before returning to the target in the middle of 2022 and remaining close to 4 percent further on. source: Central Bank of Russia
Interest Rate in Russia averaged 7.15 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 April of 2021.
Interest Rate in Russia is expected to be 5.50 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 6.00 in 12 months time. In the long-term, the Russia Interest Rate is projected to trend around 6.00 percent in 2022, according to our econometric models.