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Regulation Of The Key Rate By The Central Bank Of Russia

Table 2: Dependence of an average monthly key rate dynamics of the Central Bank of the Russian Federation on the inflation rate, 2013-2019 (Central Bank of Russia, 2019)

Month Inflation, in %
2013 2014 2015 2016 2017 2018 2019
January 7.07 6.05 14.97 9.77 5.02 2.21 5.00
February 7.28 6.20 16.71 8.06 4.59 2.20 5.24
March 7.02 6.92 16.93 7.26 4.25 2.36 5.27
April 7.23 7.33 16.42 7.24 4.13 2.41 5.17
May 7.38 7.59 15.78 7.30 4.09 2.42 5.13
June 6.88 7.80 15.29 7.48 4.35 2.30 4.66
July 6.45 7.45 15.64 7.21 3.86 2.50 4.59
August 6.49 7.56 15.77 6.84 3.29 3.07 4.33
September 6.13 8.03 15.68 6.42 2.96 3.39 3.99
October 6.25 8.30 15.59 6.09 2.73 3.55 3.77
November 6.48 9.07 14.98 5.76 2.50 3.83 3.54
December 6.45 11.36 12.91 5.38 2.52 4.27 3.00 
Annual value 6.45 11.36 12.91 5.38 2.52 4.27 3.00 
Month Average monthly key rate (in %)
2013 2014 2015 2016 2017 2018 2019
January х 5.50 17.00 11.00 10.00 7.75 7.75
February х 5.50 15.07 11.00 10.00 7.60 7.75
March х 6.90 14.48 11.00 9.96 7.45 7.75
April х 7.05 14.00 11.00 9.75 7.25 7.75
May х 7.50 12.18 11.00 9.27 7.25 7.75
June х 7.50 11.61 10.72 9.15 7.25 7.63
July х 7.56 11.50 10.50 9.00 7.25 7.48
August х 8.00 11.03 10.50 9.00 7.25 7.25
September 5.50 8.00 11.00 10.30 8.78 7.37 7.07
October 5.50 8.00 11.00 10.00 8.49 7.50 6.95
November 5.50 9.30 11.00 10.00 8.25 7.50 6.50
December 5.50 13.50 11.00 10.00 8.27 7.62 6.35
Average annual value 5.50 7.86 12.57 10.58 9.16 7.42 7.33
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