Bank of Russia lowers REPO auction minimum bid rates
The Bank of Russia (CBR) has lowered its minimum bid rates for REPO auctions, effective March 23, 2026. The 1-day and 7-day terms are now set at 15.00 percent, down from 15.50 percent.
Rates decline across all terms
Effective March 23, 2026, the CBR reduced minimum bid rates for its REPO auctions.
The 1-day and 7-day terms now stand at 15.00 percent, down from 15.50 percent.
The 1-month term moved to 15.10 percent, and the 12-month term fell to 15.25 percent.
This marks the first rate reduction since July 2025, following a period of consecutive increases.
Historical rate movements
The CBR's REPO rates have seen significant volatility.
They peaked at 21.00 percent in October 2024 for short-term maturities, following a sharp increase to 20.00 percent in February 2022.
Rates were as low as 4.25 percent in July 2020, reflecting dynamic monetary policy responses.