The decision of the Bank of Russia to increase the interest rate to 15% per year is radical and will primarily affect the real sector of the economy. In an interview with RuNews24 about this issue said Oleg Vladimirovich Savchenko, Deputy Chairman of the State Duma Committee on Financial Markets.
“Companies that receive loans for their current activities will experience problems in their current activities. It will be worse if they end up in a pre-bankruptcy situation. In the past, when interest rates were increased, you could “sit” on the currency, you could “sit” on some alternatives and offset the consequences of the interest rate increase. “There is no such alternative today, the entire real sector of the economy is taking a heavy blow,” he said.
However, in his opinion, the Bank of Russia was forced to “take extreme measures” due to circumstances that only the Central Bank would know about. Savchenko expressed his hope that this decision would be temporary.
At the meeting of the board of directors of the Bank of Russia on October 27 raised You can increase the base interest rate by 200 basis points, up to 15% per year. The Central Bank explained its decision by the sharp increase in domestic demand, which, combined with increasing inflationary pressure, exceeded the possibility of increasing the production of services and goods.
Russians before offered Create “profitable deposits” against the increase in the key interest rate.