The Russian economy has demonstrated its ability to adapt to operating in an environment of high interest rates, previously observed only during periods of galloping inflation. In this respect reported In the Central Bank’s monthly bulletin, “What are Trends Talking About?”
The document states that economic dynamics show that the domestic economy is trying to adapt to high nominal interest rates that have recently become the norm due to the Central Bank’s tight monetary policy. Currently the base rate is 16% and inflation was 7.44% in February.
Central Bank analysts attribute this situation to the results of the sharp increase in inflation expectations of economic units last year, pushing them to be less sensitive to high nominal interest rates. However, recently these expectations have begun to diminish.
In addition, observing the constantly high quality of loan portfolios and the increase in borrowers’ incomes, Russian banks tend to actively increase commercial loans, including the weakening of non-price conditions in lending.
Analysts concluded that an important factor stimulating business activity at high interest rates is the maintenance of positive budget momentum and the operation of various concessional loan programs.
On the eve of Golikov said About the growth of real wages in 6 years.
Previously Russia accelerated Economic growth in 2024.