CBR Key Rate - Russia Russian Central Bank interest rate
This page shows the current and historic values of the Russian Key Rate as set by the Russian Central Bank (Central Bank of the Russian Federation, CBR). The Key Rate is often regarded as the most important interest rate of the CBR.
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Date
|
Rate
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|---|---|
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12-15-2023
|
16.00 %
|
|
10-26-2023
|
15.00 %
|
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09-18-2023
|
13.00 %
|
|
08-15-2023
|
12.00 %
|
|
07-21-2023
|
8.50 %
|
|
09-16-2022
|
7.50 %
|
|
07-22-2022
|
8.00 %
|
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06-10-2022
|
9.50 %
|
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05-26-2022
|
11.00 %
|
|
04-29-2022
|
14.00 %
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Chart CBR Key rate
Historical interest ratesOur content is based on reliable sources. However, we do not accept liability for any errors. The content of this website is for informational purposes only and is not intended as financial advice. Decisions you make based on the information we display are always at your own expense and risk.
Bank of Russia (CBR)
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 key rate is an important tool to influence interbank interest rates and with that the level of inflation.
Check the current and historical inflation in Russia
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 Key Rate
When reference is made to the Russian interest rate this often refers to the CBR Key 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. By changing the Key Rate, the Russian central bank can also influence the exchange rate of the Russian currency, the Russian Ruble.