Duties in Charge of Banks

What do you think, to what extent the decrease of inflation level would contribute the cheapening of credits?

Алексей  Aleksey Shitov
CEO, CJSC CB Zlatkombank
This will definitely have positive impact. However, we should not expect this in the nearest future.
Кирилл  Kirill Petrov
Senior Vice-President, Binbank
Inflation decrease may convert into cheapening of credits only through mechanism of respective mitigation of CBR policy, meaning, through possible decrease of rates by the year-end.
Елена  Yelena Fedotkova
Promsvyazbank, Manager on research and analysis of debt markets
Corporate loans (short) are offered at a rate of about 350 bps to the level of inflation (annualized, based on the data of the Central Bank). Thus, in fact, the decline in inflation will lead to almost a similar decrease in the rate. The problem is that the weakening of the rouble and imposed sanctions "touched up" the inflation rate in the current year. So far we have a fairly pessimistic projection - inflation rate from the current 7.6% to 8,2-8,7% by the year-end.