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Monetary Policy

Interest rates on the Bank of Russia operations

Interest rates on the Bank of Russia operations

% p.a.

PurposeType of instrument Instrument Term Rate since
26.12.11
Rate since
18.06.12
Rate since
14.09.12
Rate since
11.12.12
Rate since
03.04.13
Liquidity provision Standing facilities (fixed rates) Overnight loans1 day 8.00 8.00 8.25 8.25 8.25
FX swaps (rouble rate) 1 day8.00 6.50 6.75 6.50 6.50
Lombard loans, REPO 1 day, 1 week16.25 6.25 6.50 6.50 6.50
Lombard loans30 days16.25 6.25 6.50 6.50 6.50
REPO12 months17.75 7.75 8.00 8.00 7.75
Loans secured by gold Up to 90 days6.75 6.75 7.00 7.00 6.75
From 91 to 180 days7.25 7.25 7.50 7.50 7.25
From 181 to 365 days 7.75 8.00 8.00 7.75
Loans secured by non-marketable assets and guarantees Up to 90 days7.00 7.00 7.25 7.25 7.00
From 91 to 180 days7.50 7.50 7.75 7.75 7.50
From 181 to 365 days8.00 8.00 8.25 8.25 8.00
Open market operations (minimum interest rates) REPO auctions1 day5.25 5.25 5.50 5.50 5.50
Lombard and REPO auctions 1 week5.25 5.25 5.50 5.50 5.50
3 months6.75 6.75 7.00 7.00 6.75
6 months17.25 7.25 7.50 7.50 7.25
12 months7.75 7.75 8.00 8.00 7.75
Liquidity absorption Open market operations (maximum interest rates) Deposit auctions 1 week 4.75 5.00 5.00 5.00
1 month1 5.50 5.50 5.75 5.75 5.75
3 months16.50 6.50 6.75 6.75 6.75
Standing facilities (fixed rates)Deposit operations 1 day, 1 week1, 1 month, call4.00 4.00 4.25 4.50 4.50
Memo item:
Refinancing rate 8.00 8.00 8.25 8.25 8.25
1 Operations have been suspended.
Updated April 2, 2013.
Interest rates on the Bank of Russia operations