The Bank of Russia lowered its benchmark one-week repo rate by 50bps to 5.5 percent on April 24th, bringing borrowing costs to its lowest since February of 2014 and in line with market expectations. Policymakers said that significant restrictive measures have been introduced to combat the coronavirus pandemic both in Russia and across the world, which negatively influences economic activity. According to the Bank of Russia’s forecast annual inflation will reach 3.8-4.8% in 2020 and will stabilise around 4% later on; and GDP is set to decrease by 4-6% in 2020. If the situation develops in line with the baseline forecast, the Bank of Russia holds open the prospect of further key rate reduction at its upcoming meetings.
Interest Rate in Russia averaged 7.28 percent from 2003 until 2020, reaching an all time high of 17 percent in December of 2014 and a record low of 5 percent in June of 2010. 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 June of 2020. source: Central Bank of Russia
Interest Rate in Russia is expected to be 5.25 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 5.00 in 12 months time. In the long-term, the Russia Interest Rate is projected to trend around 5.00 percent in 2021, according to our econometric models.