The Central Bank of the Russian Federation lowered the key rate to 17% per annum

The Central Bank of the Russian Federation lowered its key rate to 17% per annum. This was announced on September 12 by the press service of the regulator.

The news is being updated

More expensive for themselves: banks are reluctant to lower loan rates before the Central Bank meeting

Why is the profitability of deposits already rapidly going down?

Finance Minister Anton Siluanov stressed on September 9 that the Central Bank is closely monitoring the budget deficit and its impact on monetary policy. He added that banks and the budget form the money supply, so reducing the budget deficit will create more opportunities for lending by commercial banks and ease monetary policy.

On September 6, VTB Chairman of the Management Board Andrey Kostin announced a downward trend in the key interest rate in Russia. He stressed that now the movement of this indicator will only occur downwards, however, he clarified that the final decision is still made by the Central Bank of Russia.

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