The Central Bank of Russia held its benchmark interest rate at 4.25 percent during its September meeting, saying inflation rates have been slightly higher than expectations in recent months due to demand recovery after the lockdown as well as the weakening of the ruble. Still, policymakers warned that disinflationary risks still prevail in the medium run as the pace of return of the global and Russian economies to their potential will slow down. The central bank expects annual inflation to reach 3.7-4.2 percent in 2020, 3.5-4.0 percent in 2021 and to stabilize close to 4 percent later on. Officials also said they will consider the necessity of further key rate reduction at its upcoming meetings.
Interest Rate in Russia averaged 7.23 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 October of 2020. source: Central Bank of Russia
Interest Rate in Russia is expected to be 4.00 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 4.00 in 12 months time. In the long-term, the Russia Interest Rate is projected to trend around 4.50 percent in 2021 and 5.50 percent in 2022, according to our econometric models.