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55,9 20 — 28 February 2020 (coronavirus) -10,6% -29,6 48 -27,5 2 — 19 March 2020 (coronavirus and oil shock) -18,3% -100,

Policy Report in April 2021. 2 Box on the impact of the coronavirus pandemic on potential output. MPG 2021–2023. Monetary Policy Report 42 No.

Table 2.8 Russia, including those introduced in the wake of the coronavirus Interest Rates on the Bank of Russia’s Special infection. Due to

Bank of Russia including those introduced due to the spread of the coronavirus infection. The table shows the dynamics of interest rates (% per At auction

results of last year are the recovery of the economy after the coronavirus pandemic and even its growth somewhat above the potential. Nonetheless, both Russia

sanctions on Russia and the transitional period – in the first case; the coronavirus pandemic and the change in OPEC+ arrangements – in the second case). The

Bank of Russia including those introduced due to the spread of the coronavirus infection. The table shows the dynamics of interest rates (% per At auction

Germany Japan Republic of Korea Mexico -1.0 50 Global financial crisis Coronavirus pandemic -4.0 0 2018 2016 2010 2011 2012 2013 2014 2015

SMEs in the context of a deteriorating situation following the spread of coronavirus, the Bank of Russia also allocated 60 billion rubles in a special

become volatile in the face of the negative structural consequences of the coronavirus, as well as the continuing uncertainty over the future epidemic situation development