Aleksey Shitov
CEO, CJSC CB Zlatkombank
Reduce the key rate, but in the current economic reality this is unlikely. Only in 2014 it was increased twice and is currently 8%. Given the limited funding of banks in foreign markets they have no other choice than to raise deposit rates to raise the financial resources of the population. This is followed by the growth of the interest rates on loans.
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Kirill Petrov
Senior Vice-President, Binbank
Stop the increase of the base rates. Enhance the ability to use the CBR refinancing tools for periods of 3-12 months for a wider range of banks.
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Yelena Fedotkova
Promsvyazbank, Manager on research and analysis of debt markets
A number of measures is already underway. Since last summer, the Central Bank began to conduct auctions secured by nonmarket assets, i.e. it is possible to talk about reducing the cost of funding for high-quality corporate credits. The policy of the Central Bank has been tightened in respect to the retail lending rates. However, against the closure of international debt platforms, growth rates and key risk component in the cost of credit the measures on reduction of the rates face with the real needs of the banking system to maintain its financial stability and protect their customers. Therefore, a set of tools of the Central Bank to reduce the rates is extremely limited.
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