Ilya Vasilkov, product manager Deposits at Compare financial market for socialbites.ca, predicts that average deposit rates will drop to 18-19% by the end of 2025.
“The profitability of deposits will depend on the meeting of the Central Bank of Russia to be held on February 14. According to initial estimates, average deposit interest rates may rise to 22-23 percent in the first half of the year. “Then, there may be a decrease of up to 18-19 percent in the second half of the year until the end of the year,” he said.
On December 20, 2024, the Central Bank left the key interest rate at 21%. Last year the regulator increased the key interest rate three times and banks increased the return on deposits. Currently, deposit interest rates have exceeded 21 percent. As a rule, credit institutions are guided by the increase in the key interest rate when deciding to increase deposit rates. Traditionally, if the regulator increases the key interest rate by 1 percentage point, banks also increase deposit rates by 1 percentage point. or slightly higher.
Financial institutions do this after or on the eve of the Federal Reserve meeting and focus on the consensus forecast for the key rate. With evaluation Economists and financial analysts surveyed by socialbites.ca say the Central Bank will keep the interest rate at 21% for most of 2025, but it will drop to 16% by the end of the year.
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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.