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141
18.08.2025
6.0–7.0%.
Monetary conditions
Main facts
Money market rates and OFZ yields went down over the period following the June meeting. Deposit and
16,537 15,720 16,243 14,720 8,995 11,446
OFZ 28,119 22,797 19,418 15,445 16,537 15,720
are based on the comparison of expected yields on OFZ-IN and nominal OFZ (OFZ-PD), taking into account the
lag in the nominal value indexation and
1Y 19.63% 18.35%
2Y OFZ 16.90% 15.58%
5Y OFZ 16.04% 15.07%
10Y OFZ 15.79% 15.07%
Banks’ interest
15,445 16,537 15,720 16,243 14,720 8,995
OFZ 28,119 22,797 19,418 15,445 16,537 15,720
10-year OFZ yields (right-hand scale) Accumulated but unrecognised revaluation
Sources: Reporting Form 0409711, Moscow Exchange.
accounted for by OFZ, with the value of OFZ held
are based on the comparison of expected yields on OFZ-IN and nominal OFZ (OFZ-PD), taking into account the
lag between the nominal value indexation and
Key Rate Discussion
6
MONETARY CONDITIONS
MAIN FACTS
Money market rates and OFZ yields went down over the period following
the April meeting. Deposit and
149
27.06.2025
increase in domestic demand.
Monetary conditions
Main facts
Money market rates and OFZ yields went down over the period following the April meeting. Deposit and
1Y 20.43% 19.63%
2Y OFZ 16.96% 16.90%
5Y OFZ 15.99% 16.04%
10Y OFZ 15.60% 15.79%
Banks’ interest