The key rate of the Central Bank of Russia (KBR RF KS) is the percentage at which commercial banks can take loans from the Central Bank. With the help of this indicator, the Central Bank can stimulate the economy, curb inflation, and strengthen the ruble exchange rate. In this article, we tell you how the current rate affects the lives of Russians, including loans and deposits.
Central Bank key rate for today
The key rate of 18 has been in effect since July 29, 2024. Before that, it was kept at 16% since December 2023. This is the sixth increase in the key rate in a row over the past year. Previously, the average vietnam mobile database level was 7.9-9.5%, which is considered a moderate indicator. 18% is a high value that can have negative consequences if the Central Bank does not reduce the rate for a long time.
Tables of changes in the Central Bank of Russia rate
The table below shows the minimum and maximum values of the Bank of Russia rate since 2013.
The historical minimum of 4.25% was set in 2020, and the historical maximum of 20% was set in February 2020, when the Central Bank responded to sanctions pressure. It raised the CU to keep citizens' savings in Russian banks and prevent mass conversion of the ruble into foreign currencies. This crisis measure worked, and by the end of the year the CU was lowered to 7.5%.
But today's increase in the Central Bank rate does not look like a temporary measure. A gradual increase in the KS is observed throughout the year. This is shown in the table below.