The head of the Central Bank warned Russians with deposits and loans
- 11:03 November 23
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- Valeria Veselova
The head of the Central Bank of Russia, Elvira Nabiullina, announced an increase in the interest rate on loans, which now exceeds 21 percent per annum. This decision was made in order to curb inflation, and if the goal cannot be achieved, the rate may be increased again.
According to Nabiullina, the rise in prices is explained by an increase in the money supply of the population. The regulator maintains a strict position on this issue and does not rule out that the rate may be raised again during the year. Everything will depend on the fulfillment of the Central Bank’s task of reducing inflation to 4 percent by 2024.
Experts emphasize that deposit rates have already reached their maximum level. The key rate is also at its peak and, according to forecasts, could begin to decline in the second half of 2024. In such…