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The current rate, the Bank of Russia meeting calendar and the archive of past decisions.
Key rate historyHow expectations are calculatedLiquidity and the money market
Estimate as of 09/10/2026
| Meeting | Outcome | ProbabilityProbability |
|---|---|---|
| 23/10/2026 | hold | 68 % |
| cut | 32 % | |
| 18/12/2026 | hold | 48 % |
| cut | 52 % | |
| 12/02/2027 | — | — |
No comparisons yet: the first will appear after the meeting on 23 October 2026.
| Date | Meeting type | Expected rate |
|---|---|---|
| 23/10/2026 | with forecast | 13.92 % |
| 18/12/2026 | regular | 13.87 % |
| 12/02/2027 | with forecast | — |
| 19/03/2027 | regular | — |
| 30/04/2027 | with forecast | — |
| 11/06/2027 | regular | — |
| 30/07/2027 | with forecast | — |
| 10/09/2027 | regular | — |
| 22/10/2027 | with forecast | — |
| 17/12/2027 | regular | — |
| Date | Rate after | Decision |
|---|---|---|
| 11/09/2026 | 14.00 % | hold |
| 24/07/2026 | 14.00 % | cut |
| 19/06/2026 | 14.25 % | cut |
| 24/04/2026 | 14.50 % | cut |
| 20/03/2026 | 15.00 % | cut |
| 13/02/2026 | 15.50 % | cut |
| 19/12/2025 | 16.00 % | cut |
| 24/10/2025 | 16.50 % | cut |
| 12/09/2025 | 17.00 % | cut |
| 25/07/2025 | 18.00 % | cut |
| 06/06/2025 | 20.00 % | cut |
| 25/04/2025 | 21.00 % | hold |
| 21/03/2025 | 21.00 % | hold |
| 14/02/2025 | 21.00 % | hold |
| 20/12/2024 | 21.00 % | hold |
| 25/10/2024 | 21.00 % | hike |
Sources: Bank of Russia, Moscow Exchange. Public releases.