Russians have “tens of trillions of rubles” deposited into their bank accounts. The situation is such that if the key rate is reduced, restrictions on access to withdrawals may arise in order to extend this process over time. Otherwise, money would flow and “flood” the market, economist Alexei Zubets said. Tsargrad.tv.
“Tens of trillions of Russian rubles are in bank accounts. And if the rate is reduced, the question will arise that these huge amounts of money can splash into the market and flood it,” explained the expert.
Therefore, Zubets believes that if the rate were to drop, the likely response would be to limit access to withdrawals. According to him, the authorities can take such measures to prevent Russians from immediately withdrawing all their savings from the banking sector; This would be a disaster for the economy. But rumors about “freezing” are already a great scenario.
He noted that there is no need to withdraw money from accounts at this time because these are just possible scenarios. The economist called not to expect any “doomsday” or “freeze”, stressing that the maximum could be a slight tightening of deposit withdrawal policy.
Let us recall that the average maximum rate of deposits in the largest banks in Russia is exceeded It approached the historical record with 20% annually. Rates are expected to even reach 30% annually during holiday marketing campaigns.
Previously Russian banks started to propose customers with “combined deposits” with higher rates.
What are you thinking?
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.