The Bank of Russia held its benchmark interest rate at 4.25 percent during its December meeting, saying inflation is developing above its forecast and is expected to lie within the range of 4.6-4.9 percent at the end of 2020. At the same time, policymakers voiced concerns about the worsening epidemic crisis in Russia and worldwide and its impact on economic activity; while the situation in financial and commodity markets has improved, amid expectations of faster global economic recovery on the back of vaccine development progress. Looking ahead, policymakers see annual inflation reaching 3.5-4.0 percent in 2021 and stabilizing close to 4 percent later on. The central bank also said it will assess the economic and price movement developments and the existence of a potential for additional key rate reduction. source: Central Bank of Russia
Interest Rate in Russia averaged 7.19 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 February of 2021.
Interest Rate in Russia is expected to be 4.25 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 4.00 percent in 2021 and 4.75 percent in 2022, according to our econometric models.