The pause of the Central Bank will turn into “fat” industrial deposits: how banks fight for the money of Russians

By the end of the year, Russian banks may offer customers an unexpected offer. We are talking about the so-called “promises”. They differ from standard offers of increased rates. Thus, credit institutions want to avoid the outflow of customers. About the new financial product tell “Vedomosti” with reference to representatives of banks and analysts of large companies.

The Board of Directors of the Bank of Russia for the second time in a row left the key rate at 14% per annum. The surprise did not happen: the market was waiting for this – 25 of the 26 economists surveyed were betting on maintaining the rate.

The pause began on September 11. Prior to that, for a year and a half, the regulator continuously softened monetary policy, and during this time the rate fell immediately by 7 percentage points. Now the Central Bank is waiting, explaining the caution three reasons: increased inflation expectations, supply-side risks and vague prospects for fiscal policy.

“Banks were waiting for the key rate to remain at 14% per annum and pre-adapted rates on loans and deposits to such a decision of the Bank of Russia”, — write “Vedomosti”.

In other words, the pause was not a surprise for anyone. It is a signal for the market: competition for the money of the population by December will escalate, and the tool of the fight will be the investment with attractive interest.

By the end of the year, Russians can offer favorable offers for deposits.