The Central Bank announced that there is ground for a new increase in interest rates. This statement was made by the participants. conferences in honor of the editor’s decade.
It is stated that the key interest rate will be temporarily maintained at the current level in the near future, which is the most likely scenario. According to Central Bank experts, the 12 percent rate does not completely eliminate inflationary risks.
Before it happened It is known that the loan rates given to Russians with high debt burden, who give more than 50 percent of their monthly income to loan repayments, may increase by 5-7 percent after the Central Bank’s decision.
According to the Finuslugi credit index, as of August 24, the average rate of unsecured loans in Russia’s 20 largest retail banks exceeded 21%, while the average rate of secured loans rose to 19.4%.
As of September 1, the Central Bank introduced premium/risk rates for unsecured loans (consumer loans and credit cards). The surcharges allow banks to build up an additional stock of capital that they can later use to cover losses from default on loans, for example.
Previously, the Central Bank of the Russian Federation harshly raised up to 12% key rate in an unscheduled meeting.