The Central Bank of Russia has published data on interest rates in the largest Russian banks. For the first time since the beginning of this year, Central Bank statistics showed an increase in the return on deposits. Thus, in the second decade of April, the maximum interest rate on ruble deposits increased slightly from 9.65% to 9.75% per annum. This was the first time growth rates this year. In General, however, they gradually declined, dropping below 10% per annum from the level above 15% per annum at the beginning of 2015.
Today, however, the savings Bank gave investors an unpleasant surprise, actually zeroing rates on foreign currency deposits and reducing them to the limits of 0.9 p. p. “the lower interest rates on deposits of individuals is due to the General trend of a fall in interest rates on deposits of natural persons in the market”, – noted in the Bank.
According to information on the website of the credit organization, 25 APR maximum rate on deposits “Keep” is of 7.76% in rubles and 2.06 percent in dollars, “Join” – 7,10% in rubles and 1.85% in dollars, “Control” – of 6.59% in rubles and 1.64% in dollars, “Multicurrency” – 6,19% in rubles and 1.67% in dollars.
“Of course, Sberbank disingenuous, saying that reduced rates on deposits, following a common trend. The trend was just the opposite – interest on rouble deposits were growing up, but now will fall because of the BEAC will be followed by an absolute majority. And the rate at 9% would be cause for concern – not scammers? From the point of view of the financial sector, everything is clear: the banks cannot cope with liquidity and now have little interest in attracting new investors. Lower rates improve the credit institution. According to the official version, happy to remain clients, because inflation is 6%, which means deposits, compared to 2015-th year, remain profitable. What’s the catch? That drop in real income of the population continues apace, the economy is far from stable, which means the ruble is worth falter and the prices again will spread upwards. And most importantly, the Central Bank reduces key interest rate, leaving it at a transcendent level – 11%. Accordingly, the interest rates on loans, banks do not reduce. There is a bias that inevitably carries negative consequences for the whole system,” – said Noteru.com analyst Michael Bazaars.
Experts note that, probably in June, the regulator will decide on the reduction of the key rate – up to 10%. But this is not enough to save the economy. “The feeling that the system is struggling to return to the resource model – the increased price of oil and we calmed down. Business and people are bent – the salaries are small loans are expensive, back-breaking taxes, but nothing. Why do we need to stimulate the economy? Why take the risk and to reduce the key rate, if inflation may rise by 2-3%. After all, the slow growth of prices is perhaps the only achievement of the Central Bank, Elvira Nabiullina which today can boast. Therefore, we will do everything for the recovery of the financial sector, and the people still suffer”, – says the economist Anatoly Baranov.
However, despite the radical reduction of interest rates, analysts believe that people will continue to take their savings in banks, because there is no alternative, and without a “nest egg” for a rainy day” the Russians in times of crisis to remain accustomed.
