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Key rate of the Bank of Russia increased to 21.0% per annum

On February 28, 2022, the Central Bank of the Russian Federation at a внеплановом заседании Board of Directors raised the key rate by 200 basis points, up to 21.0% per annum. This is due to the dramatically changed external conditions.

The external environment for the Russian economy has changed dramatically over the past few days.

The increase in the key rate is aimed at preventing the depreciation of the ruble exchange rate, supporting financial stability, and preserving the savings of citizens.

The Bank of Russia will continue to closely monitor the situation and take necessary measures to ensure the stability of the financial sector and the economy as a whole.