Russia Interest Rate 2003-2018 | Data | Chart | Calendar | Forecast

The Bank of Russia held its benchmark one-week repo rate at 7.25 percent on April 27th, following five consecutive cuts, saying that a weaker ruble amid geopolitical tensions will boost inflation. Still, policymakers agreed that there are no risks of inflation overshooting the bank's 4 percent target. The bank also reiterated that monetary policy will become neutral in 2018 and that inflation is expected to be 3-4 percent in late 2018 and to remain close to 4 percent in 2019. Interest Rate in Russia averaged 7.31 percent from 2003 until 2018, reaching an all time high of 17 percent in December of 2014 and a record low of 5 percent in June of 2010.

Russia Interest Rate
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Russia Holds Key Interest Rate at 7.25%


The Bank of Russia held its benchmark one-week repo rate at 7.25 percent on April 27th, following five consecutive cuts, saying that a weaker ruble amid geopolitical tensions will boost inflation. Still, policymakers agreed that there are no risks of inflation overshooting the bank's 4 percent target. The bank also reiterated that monetary policy will become neutral in 2018 and that inflation is expected to be 3-4 percent in late 2018 and to remain close to 4 percent in 2019.

Information Notice of Bank of Russia:

Inflation remains low, driven by long-term factors including, in the first place, a moderate recovery in domestic demand.

Consumer prices grew at the pace of 2.4% in March, and consumer price growth in April is estimated at 2.3–2.5%. The recent weekly data on inflation are indicative of a still feeble response of consumer prices to the ruble weakening. The gradual depletion of the past year’s vegetable stocks and the related growth in imports contributed to an expected slight increase in both monthly and annual inflation between March and April, relative to February.

In March, household inflation expectations dropped to a historical low of 7.8%. That said, uncertainty is in place over how inflation expectations will respond to the April developments in financial markets.

The Bank of Russia estimates that the ruble weakening will quicken inflation movement to 4% without the risks of overpassing this level, unless the external environment changes considerably. Inflation is forecast to range between 3–4% as of the end of 2018 and hold close to 4% in 2019.

The Bank of Russia registers a rise in inflation risks triggered by some internal and external factors. First, geopolitical factors and accelerated yield growth in advanced economies may cause surges in volatility in financial markets and affect expectations for the exchange rate and inflation. Furthermore, uncertainty still persists over the dimensions of fiscal decisions, which are needed to estimate the impact of such decisions on inflation.

The Bank of Russia leaves unchanged its estimates of risks associated with consumer and oil price volatility, wage movements and possible changes in consumer behaviour.

In its key rate decision-making the Bank of Russia will be guided by assessments of inflation risks, inflation dynamics and economic developments against the forecast.


Central Bank of the Russian Federation | Joana Ferreira |
4/27/2018 10:42:55 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-02-09 10:30 AM Interest Rate Decision 7.5% 7.75% 7.5% 7.5%
2018-03-23 10:30 AM Interest Rate Decision 7.25% 7.5% 7.25% 7.25%
2018-04-27 10:30 AM Interest Rate Decision 7.25% 7.25% 7.25% 7%
2018-06-15 10:30 AM Interest Rate Decision 7.25% 7%
2018-06-15 12:00 PM Monetary Policy Report
2018-07-27 10:30 AM Interest Rate Decision 6.5%


Russia Money Last Previous Highest Lowest Unit
Interest Rate 7.25 7.25 17.00 5.00 percent [+]
Interbank Rate 7.07 7.20 45.30 4.20 percent [+]
Money Supply M0 8301.00 8163.60 8446.00 0.10 RUB Billion [+]
Money Supply M1 19248.94 18864.03 19508.70 106.31 RUB Billion [+]
Money Supply M2 42045.60 41598.00 42440.50 1090.10 RUB Billion [+]
Foreign Exchange Reserves 457995.00 453644.00 596566.00 4532.00 USD Million [+]
Central Bank Balance Sheet 1876.00 1772.40 2878.40 8.90 RUB Billion [+]
Loans to Private Sector 24708082.00 24631886.00 24708082.00 4601204.00 RUB Million [+]
Deposit Interest Rate 7.01 9.19 101.96 3.79 percent [+]
Cash Reserve Ratio 7.00 7.00 10.00 0.50 percent [+]


Russia Interest Rate

In Russia, interest rate decisions are taken by the Central Bank of the Russian Federation. From September 16th of 2013, the official interest rate is the one-week auction repo rate. Until September 15th of 2013, the official interest rate was the refinancing rate, which was seen as a ceiling for borrowing money and a benchmark for calculating tax payments. 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 - actual data, historical chart and calendar of releases - was last updated on April of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
7.25 7.25 17.00 5.00 2003 - 2018 percent Daily




interest rate by Country
Country Last
Turkey 8.00 Apr/18
Mexico 7.50 Apr/18
Russia 7.25 Apr/18
Brazil 6.50 Mar/18
India 6.00 Apr/18
China 4.35 Mar/18
Indonesia 4.25 Apr/18
United States 1.75 Apr/18
Australia 1.50 Apr/18
South Korea 1.50 Apr/18
Canada 1.25 Apr/18
United Kingdom 0.50 Mar/18
Euro Area 0.00 Apr/18
France 0.00 Apr/18
Germany 0.00 Apr/18
Italy 0.00 Apr/18
Netherlands 0.00 Apr/18
Spain 0.00 Apr/18
Japan -0.10 Apr/18
Switzerland -0.75 Mar/18


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