Financier Bragin: deposit rates in Russia will grow at a slower pace
Vladimir Bragin, Director for Analysis of Financial Markets and Macroeconomics at Alfa Capital Management Company, in an interview with the Prime agency, predicted what changes await Russians in deposit rates in 2022
The financier suggested that deposit rates would grow at a slower pace than the key rate increased. He explained that this is due to the fact that the active actions of the Bank of Russia can indeed lead to a slowdown in inflation in the future, and the key rate will also decrease. “As a result, it makes no sense to include in decisions, including those relating to the level of deposit rates offered by banks, a long period of high interest rates of the regulator,” the specialist explained.
He added that interest rates on loans will increase in much the same way as on deposits. “Although, perhaps, a little stronger, since, firstly, banks will lay in them additional risks associated, among other things, with future fluctuations in monetary conditions,” the expert explained. He added that the tightening of the policy of the Central Bank of the Russian Federation may affect not only rates, but also, for example, reserve requirements or other standards.
The specialist concluded that if the situation with inflation in Russia stabilizes, then the probability of lowering rates – on deposits and loans – will be very high.
Earlier it was reported that Russians from 2022 began to pay tax on interest on bank deposits over one million rubles. The tax will be levied on income received in 2021.