MOSCOW, July 26 Loans to companies at floating rates account for almost 99% of all corporate loans issued in Russia this year, said Elvira Nabiullina, Chairwoman of the Central Bank of the Russian Federation.
«In anticipation of a reduction in the key rate this year, as our forecast had previously assumed, enterprises continued to rapidly increase borrowing at floating rates. As a result, the increase in lending at floating rates is almost 99% of the increase in all ruble lending to companies since the beginning of this year,» she said at a press conference following a meeting of the Central Bank's board of directors.
On Friday, the Bank of Russia raised the key rate for the first time this year — expectedly by 2 percentage points, to 18% per annum. This is the maximum rate since the beginning of April 2022, when it was at 20% per annum.