MOSCOW, May 26. A massive increase in deposit rates is not yet expected, despite the tightening of the Bank of Russia’s rhetoric regarding the key rate. This scenario will be realized if the regulator really goes for an increase, Bogdan Zvarich, chief analyst of Banki.ru, told the Prime agency in an interview.
“We do not note a trend towards an increase in rates throughout the market. Some credit institutions, against the backdrop of tightening regulator rhetoric and growing risks of a further rise in the key rate, really began to improve conditions for deposits,” he noted.
But more often this does not apply to everyone, but only to individual offers. This happens when a bank needs to attract more liquidity for a certain period. Then, in order to get ahead of competitors, he puts forward proposals that are more attractive for investors.
According to Zvarich, it is most likely to maintain the key rate at 16%. In this situation, the consolidation of bank deposit rates at current levels just below 15% per annum will continue, he concluded.