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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
RussiaRussia Interest Rate Decision fell to 14.0% in July 2026
FMPMonthlyReleased July 2026
Russia Interest Rate Decision fell to 14.0% in July 2026, down 0.25% from June's 14.25% reading. The reading matched the 14.0% consensus. Interest Rate Decision has now declined for 11 consecutive months. Interest Rate Decision is now the lowest in 33 months.
Latest Release
14
Actual
14
Consensus
14.25
Previous
Median Absolute Error
±0.38 percentage points
across last 12 releases
Last Call
Jul 2026
Predicted: 14.13
Actual: 14
Error: +0.13
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| XAU/USD | ▼ Inverse | −0.45 | COMMODITIES | Moves against | → View |
| BTC/USD | ▲ Direct | +0.27 | CRYPTO | Moves with | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Interest Rate Decision (Russia) was reported at 14% in July 2026. This matched the market consensus of 14% exactly. The reading fell from the previous value of 14.25%. Trailing 12-month context per ETL data through July 2026. Over the past 12 months, the indicator has averaged 15.46%, ranging from 14% to 17% across 7 releases.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 14.42%, down from the prior three at 16%. Volatility over the past year (σ 1.04%) is comparable than the prior year (σ 1.09%). In July readings over the past 3 years, Interest Rate Decision has averaged 16.67%.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with XAU/USD (Bearish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 0.38%.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include S&P Global Manufacturing PMI (Aug 3) and Inflation Rate YoY (Aug 12).
Auto-generated from current model state · Refreshes on each release · Last update July 2026.
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Interest Rate Decision - RU
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About Interest Rate Decision — Russia
DEFINITION
The Interest Rate Decision is a key financial indicator that reflects the decision made by a central bank or monetary authority to either increase, decrease, or maintain the current interest rates. This decision has a significant impact on the economy, as it affects the cost of borrowing money, inflation rates, and overall economic growth. Investors and businesses closely monitor interest rate decisions as they can have a significant impact on financial markets and investment strategies.
WHY THIS INDICATOR MATTERS
Policy-rate decisions and associated communication are the primary near-term driver of front-end rates, currencies, and equity-discount-rate inputs. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Jul 2026): actual 14 %, consensus 14 %. Prior reading (Jul 2026): 14 %. Before that (Jun 2026): 14.25 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with XAU/USD (Bearish XAU, r=-0.45) — a useful reference for commodities-focused traders.
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EXPECTED ZONE
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Economic Calendar - RU Events
| Monday, August 3, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 06:00 | RU | S&P Global Manufacturing PMI | 50.3 | 50.5 | 50.55 | Medium | |