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CBR refinancing rate - Russian central bank’s interest rate
Charts - historic Bank of Russia interest rates
Graph Russian interest rate CBR - interest rates last year |
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Graph Russian interest rate CBR - long-term graph |
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Bank of Russia
The Bank of Russia or the Central Bank of the Russian Federation (CBR) is the Russian central bank. The bank is independent of federal and local government and is the institution which issues the Russian currency - the rouble - in Russia and is responsible for the stability and circulation of the currency. The central bank is also responsible for defining and implementing national monetary policy. This happens in collaboration with the Russian government. The refinancing rate is an important tool to influence interbank interest rates and with that the level of inflation. For an overview of current inflation in Russia, click here or here for current inflation by country. Another important task is to supervise Russian financial instructions and issue or retract banking licences. The CBR is also responsible for the rules and guidelines in the area of banking. If Russian financial institutions do not have sufficient funds in times of crisis, the central bank will provide loans. The bank also controls the foreign currency reserves and is responsible for rules on the trade in foreign currencies. Finally the Central Bank of the Russian Federation is also the institution which provides analyses, reports and forecasts relating to the Russian economy.
CBR refinancing rate
When reference is made to the Russian interest rate this often refers to the CBR refinancing rate. The CBR sets the level of this short-term interest rate. This base rate is a monetary tool used by the Russian central bank which can influence the interbank interest rates and the interest rates for loans, mortgages and savings.
This page shows the current and historic values of CBR’s refinancing rate.
For a summary of the current interest rates of a large number of central banks please click here.
Tables - current and historic Russian central bank interest rates
CBR latest interest rate changes
| december 23 2011 |
8.000 % |
| april 29 2011 |
8.250 % |
| february 25 2011 |
8.000 % |
| may 31 2010 |
7.750 % |
| april 29 2010 |
8.000 % |
| march 26 2010 |
8.250 % |
| february 19 2010 |
8.500 % |
| december 25 2009 |
8.750 % |
| november 24 2009 |
9.000 % |
| october 29 2009 |
9.500 % |
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Summary of other central banks’ interest rates
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