Russia has increased its interest rates by 1 percentage points, from 7.5% to an annual rate of 8.5%.
The key rates a tool used by Central Banks to implement monetary policy.
An increase in interest rates is used to slow down inflation and protect the currency.
This change is the first to have taken place since on October25th 2021, when the Central Bank increased interest rates by 0.75 percentage points to 7.5%.
Here we show you the progression of interest rates in Russia. You can see interest rates in other countries in interest rates and see all the economic information about Russia in Russia economy.