Russian Federation Interest Rate Spread
Interest rate spread (lending rate minus deposit rate) FR.INR.LNDP
Russian Federation's interest rate spread was 4.44% in 2025, ranked 60th globally. This represents a 9.4% increase from 2024. Data from World Bank, covering 1997–2025.
Overview
Russian Federation's interest rate spread stood at 4.44% in 2025, a rise of +0.38pp from 2023. Based on recent trends, this figure is projected to reach 4.44% by 2025. Russian Federation ranked 60th globally.
The Russian Federation's interest rate spread stood at 4.44% in 2025, ranking the country 60th globally, a significant narrowing from its all-time peak of 26.03% in 1999 during the aftermath of the financial crisis. This decline reflects a long-term trend of monetary stabilization, particularly evident when compared to the 15.27% spread recorded in 1997. The lowest point of 3.01% was reached in 2020, amid accommodative monetary policies during the global pandemic, after which the spread widened moderately. In 2025, Russia’s spread was closely aligned with peer countries such as Azerbaijan and Albania, both at 4.48%, while Bulgaria recorded a slightly lower spread at 4.21%. The trajectory since the late 1990s indicates a maturing financial system and improved central bank credibility, though geopolitical tensions and external sanctions continue to influence capital flows and interest rate dynamics. Future movements in the spread will likely depend on inflation control, central bank policy effectiveness, and shifts in global risk appetite toward emerging markets.
Data & projection
| Year | Interest Rate Spread | YoY change | Rank |
|---|---|---|---|
| 2026* trend | 4.66% | - | - |
| 2025* trend | 4.44% | - | - |
| 2025 | 4.44% | +0.38pp | #60 |
| 2023 | 4.05% | +0.20pp | #26 |
| 2022 | 3.86% | +0.46pp | #26 |
| 2021 | 3.39% | +0.39pp | #26 |
| 2020 | 3.01% | −0.34pp | #21 |
| 2019 | 3.35% | −0.15pp | #29 |
| 2018 | 3.50% | −1.20pp | #31 |
| 2017 | 4.70% | −0.93pp | #49 |
| 2016 | 5.63% | −0.89pp | #61 |
| 2015 | 6.52% | +1.42pp | #69 |
| 2014 | 5.10% | +1.23pp | #55 |
| 2013 | 3.88% | +0.31pp | #40 |
| 2012 | 3.57% | −0.45pp | #32 |
| 2011 | 4.02% | −0.79pp | #39 |
| 2010 | 4.81% | −1.92pp | #45 |
Detected Pattern
Analysis
Russian Federation matched the Fiscal Dominance Trap pattern in 2022. Historically, 72% of countries showing this pattern (278 out of 386) saw interest rate spread improve within 24 months. View full analysis →
Frequently Asked Questions
Russian Federation's interest rate spread was 4.44% in 2025. Ranked 60th globally. This represents a 9.4% increase from the previous year.
Russian Federation's interest rate spread peaked at 26.03% in 1999.
The lowest interest rate spread in Russian Federation was 3.01% in 2020.
Russian Federation ranks 60th globally in interest rate spread as of 2025.
The World Bank indicator code is FR.INR.LNDP. Data sourced from World Bank.
Russian Federation's interest rate spread is projected to reach 4.44% by 2025 based on trend extrapolation.
The interest rate spread of Russian Federation in 2025 was 4.44%. This ranks 60th in the world.
Cite this page
@misc{historysaid_russian-federation_interest-rate-spread,
title = {Russian Federation Interest Rate Spread},
url = {https://historysaid.com/russian-federation/interest-rate-spread/},
publisher = {HistorySaid},
year = {2026}
}