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Experts do not expect a serious decrease in deposit rates in Russia

MOSCOW, January 14 – PRIME. There will not be a significant decrease in the rates on bank deposits in Russia this year – even now the real rate on them, taking into account inflation, is negative, said Sergey Tishchenko, General Director of the Expert RA rating agency, in an interview with RIA Novosti. The expert shared his expectations for an increase in prices for sugar and butter in 2021 The dynamics of interest rates on deposits in 2020 updated historical lows against the background of the easing of the monetary policy of the Bank of Russia. At the same time, the decrease in profitability on deposits occurred in a smaller range than the change in the key rate: since the beginning of 2020, the average maximum rate of the top 10 banks in terms of deposits decreased by 1.5 percentage points, to 4.49%, and the key rate – by 2 percentage points, to 4.25%. According to Rosstat, inflation in 2020 amounted to 4.91% against 3.04% a year earlier. “A further significant reduction in interest rates on deposits can hardly be expected: given the acceleration of inflation by the end of the year, the real rate on them became negative. At the same time, deposits of individuals remain a significant source of funding for credit institutions, which banks cannot afford to lose,” says Tishchenko According to the latest data from the Central Bank, Russians’ funds in banks increased by 0.2% in November, while the volume of foreign currency deposits increased by 1.6%, and ruble deposits decreased by 0.2%. As of December 1, individuals kept 32.5 trillion rubles in accounts with credit institutions. Read the full text of the interview on the website of the Prime Economic Information Agency (part of the Russia Today media group) at 10.00 Moscow time. See also: The condition for stabilizing the exchange rate below 70 rubles per dollar has been named

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