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Russia Interest Rate

The Russian Central Bank lowered its key interest rate to 16.5% in October 2025 from 17% in September 2025. This move was driven by forecasts of moderating inflation and a projected economic slowdown. Analysts now expect the average key rate for 2025 to be 19.2%, reflecting a challenging monetary environment. Russia's GDP growth is expected to range between 1% and 2% in 2025. Russia's record low interest rate was 4.25% in July 2020 and record high was 21% in October 2024.

Historical Data (2013-2025)

(in %)
Date Interest Rate
Oct 24, 2025 16.5%
Sep 12, 2025 17%
Jul 25, 2025 18%
Jun 06, 2025 20%
Apr 25, 2025 21%
Mar 21, 2025 21%
Feb 14, 2025 21%
Dec 20, 2024 21%
Oct 25, 2024 21%
Sep 13, 2024 19%
Jul 26, 2024 18%
Jun 07, 2024 16%
Apr 26, 2024 16%
Mar 22, 2024 16%
Feb 16, 2024 16%
Dec 15, 2023 16%
Oct 27, 2023 15%
Sep 18, 2023 13%
Aug 15, 2023 12%
Jul 21, 2023 8.5%
Jun 09, 2023 7.5%
Apr 28, 2023 7.5%
Mar 17, 2023 7.5%
Feb 10, 2023 7.5%
Dec 16, 2022 7.5%
Oct 28, 2022 7.5%
Sep 16, 2022 7.5%
Jul 22, 2022 8%
Jun 10, 2022 9.5%
Apr 29, 2022 14%
Apr 08, 2022 17%
Mar 18, 2022 20%
Feb 11, 2022 9.5%
Dec 20, 2021 8.5%
Nov 30, 2021 7.5%
Oct 22, 2021 7.5%
Sep 11, 2021 6.75%
Aug 31, 2021 6.5%
Jul 23, 2021 6.5%
Jun 11, 2021 5.5%
Apr 23, 2021 5%
Mar 19, 2021 4.5%
Feb 12, 2021 4.25%
Dec 18, 2020 4.25%
Oct 23, 2020 4.25%
Sep 18, 2020 4.25%
Jul 24, 2020 4.25%
Jun 19, 2020 4.5%
Apr 24, 2020 5.5%
Mar 20, 2020 6%
Feb 07, 2020 6%
Dec 13, 2019 6.25%
Oct 25, 2019 6.5%
Sep 06, 2019 7%
Jul 26, 2019 7.25%
Jun 14, 2019 7.5%
Apr 26, 2019 7.75%
Mar 22, 2019 7.75%
Feb 08, 2019 7.75%
Dec 14, 2018 7.75%
Oct 26, 2018 7.5%
Sep 14, 2018 7.5%
Jul 27, 2018 7.25%
Jun 15, 2018 7.25%
Apr 27, 2018 7.25%
Mar 23, 2018 7.25%
Feb 09, 2018 7.5%
Dec 15, 2017 7.75%
Oct 28, 2017 8.25%
Sep 15, 2017 8.5%
Jul 28, 2017 9%
Jun 16, 2017 9%
Apr 28, 2017 9.25%
Mar 24, 2017 9.75%
Feb 03, 2017 10%
Dec 16, 2016 10%
Oct 28, 2016 10%
Sep 16, 2016 10%
Jul 29, 2016 10.5%
Jun 10, 2016 10.5%
Apr 30, 2016 11%
Mar 18, 2016 11%
Jan 30, 2016 11%
Dec 11, 2015 11%
Oct 30, 2015 11%
Sep 11, 2015 11%
Jul 31, 2015 11%
Jun 15, 2015 11.5%
Apr 30, 2015 12.5%
Mar 13, 2015 14%
Jan 30, 2015 15%
Dec 16, 2014 17%
Oct 31, 2014 9.5%
Jul 25, 2014 8%
Apr 25, 2014 7.5%
Mar 03, 2014 7%
Sep 13, 2013 5.5%

Recent Events

datetime event actual previous consensus
2025-10-24 06:30 AM Interest Rate Decision 16.5% 17% 17%
2025-09-12 06:30 AM Interest Rate Decision 17% 18% 16%
2021-02-12 05:30 AM Interest Rate Decision 4.25% 4.25% 4.25%

Next Release Date :

Russia Interest Rate : Definition
The Interest Rate set by the Central Bank of Russia is the benchmark cost of borrowing in the economy. It influences lending, spending, investment, inflation, and overall financial stability.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio 2.9% 2.5% Dec'24
Debt to GDP Ratio 16.4% 16.7% Dec'24
Private Credit (% GDP) 54.64% 59.58% 2021