Russia: central bank policy rate

Last updated: Oct 9, 2026 11:15 UTC

Policy rate14.00%Oct 6, 2026

For information only. Figures are reproduced from the cited sources, may be delayed or contain errors, and are not advice of any kind. Always check the original source. This is not investment advice. Translations on this site are not official BIS translations.

SinceJul 27, 2026cut -25 bp

1 year ago17.00%

Last 2 years (daily values)

Policy rate since 2000 (month-end values)

All changes since 2000

Date	From	To	Change
Jul 27, 2026	14.25%	14.00%	cut -25 bp
Jun 22, 2026	14.50%	14.25%	cut -25 bp
Apr 27, 2026	15.00%	14.50%	cut -50 bp
Mar 23, 2026	15.50%	15.00%	cut -50 bp
Feb 16, 2026	16.00%	15.50%	cut -50 bp
Dec 22, 2025	16.50%	16.00%	cut -50 bp
Oct 27, 2025	17.00%	16.50%	cut -50 bp
Sep 15, 2025	18.00%	17.00%	cut -100 bp
Jul 28, 2025	20.00%	18.00%	cut -200 bp
Jun 9, 2025	21.00%	20.00%	cut -100 bp
Oct 28, 2024	19.00%	21.00%	hike +200 bp
Sep 16, 2024	18.00%	19.00%	hike +100 bp
Jul 29, 2024	16.00%	18.00%	hike +200 bp
Dec 18, 2023	15.00%	16.00%	hike +100 bp
Oct 30, 2023	13.00%	15.00%	hike +200 bp
Sep 18, 2023	12.00%	13.00%	hike +100 bp
Aug 15, 2023	8.50%	12.00%	hike +350 bp
Jul 25, 2023	7.50%	8.50%	hike +100 bp
Sep 19, 2022	8.00%	7.50%	cut -50 bp
Jul 25, 2022	9.50%	8.00%	cut -150 bp
Jun 14, 2022	11.00%	9.50%	cut -150 bp
May 27, 2022	14.00%	11.00%	cut -300 bp
May 4, 2022	17.00%	14.00%	cut -300 bp
Apr 11, 2022	20.00%	17.00%	cut -300 bp
Feb 28, 2022	9.50%	20.00%	hike +1,050 bp
Feb 14, 2022	8.50%	9.50%	hike +100 bp
Dec 20, 2021	7.50%	8.50%	hike +100 bp
Oct 25, 2021	6.75%	7.50%	hike +75 bp
Sep 13, 2021	6.50%	6.75%	hike +25 bp
Jul 26, 2021	5.50%	6.50%	hike +100 bp
Jun 15, 2021	5.00%	5.50%	hike +50 bp
Apr 26, 2021	4.50%	5.00%	hike +50 bp
Mar 22, 2021	4.25%	4.50%	hike +25 bp
Jul 27, 2020	4.50%	4.25%	cut -25 bp
Jun 24, 2020	5.50%	4.50%	cut -100 bp
Apr 27, 2020	6.00%	5.50%	cut -50 bp
Feb 10, 2020	6.25%	6.00%	cut -25 bp
Dec 16, 2019	6.50%	6.25%	cut -25 bp
Oct 28, 2019	7.00%	6.50%	cut -50 bp
Sep 9, 2019	7.25%	7.00%	cut -25 bp
Jul 29, 2019	7.50%	7.25%	cut -25 bp
Jun 17, 2019	7.75%	7.50%	cut -25 bp
Dec 17, 2018	7.50%	7.75%	hike +25 bp
Sep 17, 2018	7.25%	7.50%	hike +25 bp
Mar 27, 2018	7.50%	7.25%	cut -25 bp
Feb 12, 2018	7.75%	7.50%	cut -25 bp
Dec 18, 2017	8.25%	7.75%	cut -50 bp
Oct 27, 2017	8.50%	8.25%	cut -25 bp
Sep 20, 2017	9.00%	8.50%	cut -50 bp
Jun 19, 2017	9.25%	9.00%	cut -25 bp
May 3, 2017	9.75%	9.25%	cut -50 bp
Mar 27, 2017	10.00%	9.75%	cut -25 bp
Sep 19, 2016	10.50%	10.00%	cut -50 bp
Jun 14, 2016	11.00%	10.50%	cut -50 bp
Aug 3, 2015	11.50%	11.00%	cut -50 bp
Jun 16, 2015	12.50%	11.50%	cut -100 bp
May 5, 2015	14.00%	12.50%	cut -150 bp
Mar 16, 2015	15.00%	14.00%	cut -100 bp
Feb 2, 2015	17.00%	15.00%	cut -200 bp
Dec 16, 2014	10.50%	17.00%	hike +650 bp
Dec 12, 2014	9.50%	10.50%	hike +100 bp
Nov 5, 2014	8.00%	9.50%	hike +150 bp
Jul 28, 2014	7.50%	8.00%	hike +50 bp
Apr 28, 2014	7.00%	7.50%	hike +50 bp
Mar 3, 2014	5.50%	7.00%	hike +150 bp
Sep 13, 2013	8.25%	5.50%	cut -275 bp
Sep 14, 2012	8.00%	8.25%	hike +25 bp
Jul 3, 2012	8.25%	8.00%	cut -25 bp
Jun 20, 2012	8.00%	8.25%	hike +25 bp
Dec 26, 2011	8.25%	8.00%	cut -25 bp
May 3, 2011	8.00%	8.25%	hike +25 bp
Feb 28, 2011	7.75%	8.00%	hike +25 bp
May 31, 2010	8.00%	7.75%	cut -25 bp
Apr 30, 2010	8.25%	8.00%	cut -25 bp
Mar 29, 2010	8.50%	8.25%	cut -25 bp
Feb 24, 2010	8.75%	8.50%	cut -25 bp
Dec 28, 2009	9.00%	8.75%	cut -25 bp
Nov 25, 2009	9.50%	9.00%	cut -50 bp
Oct 30, 2009	10.00%	9.50%	cut -50 bp
Sep 30, 2009	10.50%	10.00%	cut -50 bp
Sep 15, 2009	10.75%	10.50%	cut -25 bp
Aug 10, 2009	11.00%	10.75%	cut -25 bp
Jul 13, 2009	11.50%	11.00%	cut -50 bp
Jun 5, 2009	12.00%	11.50%	cut -50 bp
May 14, 2009	12.50%	12.00%	cut -50 bp
Apr 24, 2009	13.00%	12.50%	cut -50 bp
Dec 1, 2008	12.00%	13.00%	hike +100 bp
Nov 12, 2008	11.00%	12.00%	hike +100 bp
Jul 14, 2008	10.75%	11.00%	hike +25 bp
Jun 10, 2008	10.50%	10.75%	hike +25 bp
Apr 29, 2008	10.25%	10.50%	hike +25 bp
Feb 4, 2008	10.00%	10.25%	hike +25 bp
Jun 19, 2007	10.50%	10.00%	cut -50 bp
Jan 29, 2007	11.00%	10.50%	cut -50 bp
Oct 23, 2006	11.50%	11.00%	cut -50 bp
Jun 26, 2006	12.00%	11.50%	cut -50 bp
Dec 26, 2005	13.00%	12.00%	cut -100 bp
Jun 15, 2004	14.00%	13.00%	cut -100 bp
Jan 15, 2004	16.00%	14.00%	cut -200 bp
Jun 21, 2003	18.00%	16.00%	cut -200 bp
Feb 17, 2003	21.00%	18.00%	cut -300 bp
Aug 7, 2002	23.00%	21.00%	cut -200 bp
Apr 9, 2002	25.00%	23.00%	cut -200 bp
Nov 6, 2000	28.00%	25.00%	cut -300 bp
Jul 10, 2000	33.00%	28.00%	cut -500 bp
Mar 21, 2000	38.00%	33.00%	cut -500 bp
Mar 7, 2000	45.00%	38.00%	cut -700 bp
Jan 24, 2000	55.00%	45.00%	cut -1,000 bp

Which rate is shown (BIS notes, in English)

From 13 Sept 2013 onwards: official key rate; from 1 Jan 1992 to 12 Sep 2013: official refinancing rate.

Changes by year

Method

We download the BIS daily policy-rate series (WS_CBPOL). A change is recorded on the first day the published value differs from the previous day's value. Series that ended (for example euro area members before joining the euro) are not listed. bp = basis points (0.01 percentage point).

About this page

The policy rate of Russia is 14.00% (BIS data as of Oct 6, 2026).