Aleksey Shitov
CEO, CJSC CB Zlatkombank
Most probably, the rates will continue rising both on deposits, as well as loans for businesses and for individuals. Unfortunately, the sanctions and the general deterioration of the situation in Ukraine recently had a negative impact on the Russian economy as a whole. It is likely that this trend will change in 2015, but so far there are no prerequisites for this.
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Kirill Petrov
Senior Vice-President, Binbank
The trend of the rate rise this fall is likely to continue as the growth of the value of liabilities of Russian banks has not yet fully reached the level of rates on active credit products.
Additional factor in growth of rates can also be the increasing provisioning and the need for its compensation in the rate on loans.
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Yelena Fedotkova
Promsvyazbank, Manager on research and analysis of debt markets
The overall situation in the markets, of course, affects the interest rates on loans. The key interest rate can also be an indicator, which the Central Bank this year raised by 250 basis points (bps). It is now a guide in determining monetary policy. The Central Bank, in its turn, is guided by inflation, placing it at the forefront of its monetary policy. Taking into account that having slowed down in July the inflation once again headed for growth, then the next lift of rates before the end of this year is possible. Respectively, the interest rates on loans will grow. Note that during 6 months in 2014 the rates for short-term corporate lending increased by 100 basis points, retail - up to 50 bps. We expect future growth of rates in the whole system.
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