Kirill Tremasov will leave his post as director of the monetary policy department of the Central Bank of the Russian Federation on October 2. This was officially announced website Central bank.
He has held this position since 2020. Tremasov will be replaced by his first deputy Andrey Gangan, who has been working at the Central Bank of Russia since 2011. The Monetary Policy Department analyzes the effectiveness of decisions taken by the regulatory body, prepares press releases on key interest rates and summaries of board discussions.
From October this year, Tremasov will become an advisor to the head of the Central Bank.
At the meeting on September 13, the Central Bank raised the interest rate for the second time this year by 100 basis points to 19% per annum. In general, the regulator’s decision coincided with the forecasts of the financial market. Economists and financiers surveyed by socialbites.ca expect further increases in deposit and loan rates. According to them, in 2024-25, the maximum rates for deposits will be 22-23% per annum, for consumer loans 40-45% per annum, and for mortgages 22-25% per annum. Experts are confident that the increase in the key interest rate will also contribute to a strengthening of the ruble against world currencies by 5-7% in the medium term. More details in our material.
It was there before named Problems of the Russian economy.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.