Major Russian banks have raised rates on short-term deposits

The largest Russian banks raised deposit rates for three months after the June meeting of the Bank of Russia. This was reported on July 5 by RIA Novosti with reference to data from the Finuslugi service.

Following a meeting of the board of directors in June, the regulator lowered the key rate for the ninth time in a row, but only by 0.25 percentage points to 14.25% per annum. The head of the Central Bank, Elvira Nabiullina, admitted the possibility of pauses in further easing monetary policy.

Against this background, the average rate on deposits for a period of three months in the 20 largest banks increased to 13.5% per annum by July 3 from 13.44% on June 19. At the same time, the yield on deposits for six months decreased by 0.08 percentage points, and for a year — by 0.07 percentage points.

Rise in insurance: how the instructions of the Central Bank will affect payments and the cost of CTP

In anticipation of an increase in the amount of compensation, insurers began to raise prices for avtograzhdanka

Alexey Zabotkin, Deputy Chairman of the Central Bank of Russia, said on July 3 that freezing Russian deposits was impossible under any circumstances. When asked about such scenarios, he stressed their inconsistency.