Russians promised increase in loan prices despite maintaining key interest rate 16:52

Deposit and loan interest rates in Russia may rise in the near future, although the key rate remains at 16%. This forecast was given to by Yuri Perevyshin, senior researcher at the Center for Research on Problems of Central Banks at the Economics and Research Institute of the Presidential Academy.

“Consumer loans and mortgage interest rates may increase in the near future due to the tightening signal and the extension of the tight monetary policy period. And they are unlikely to fall by the end of the year. “Demand for consumer loans and mortgages should decrease, as it is now more profitable to transfer consumer spending into the future and increase savings,” the economist said.

According to him, deposit rates started to rise a week or two before the Central Bank’s meeting on June 7. According to Perevyshin’s forecast, deposit interest rates will increase slightly and remain at this level at least until the end of 2024. The economist recommended deciding on the maturity of the deposit based on the purposes of opening it and the expected course of income and expenses. The expert explained that deposits will provide positive returns in real terms, regardless of the period.

According to the Central Bank, the FSC (the full cost of the loan taking into account commissions and all payments) for off-target consumer loans in Russia as of May 16, 2024 ranges from 21.49% to 59.829% per annum. According to, PSC for mortgages ranges from 14% to 27%. Deposit rates vary between 10% and 18.2%. After the Central Bank increased interest rates, banks began to increase loan and deposit interest rates. The regulator increased this rate fivefold in 2023, to 16% in December. He has been saved four times at this level; 7 June 2024.

Previously “” saidWhat can Russians expect after the key interest rate is kept at 16% again?

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Source: Gazeta


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