Bank of Russia revises upward incremental growth rate for retail deposits
"We expect households money will continue growing actively and the annual incremental growth rates will be within the range of 14-19%," the Bank of Russia said.
The tough monetary policy of the Central Bank and the rise of interest rates for deposits by banks stimulate the saving activity of households and proactive growth of retail deposits with banks is expected, the regulator said.
"The rigorous monetary policy and the increase of interest rates stimulate saving activity of individuals," the Central Bank noted. "We expect households money will continue growing actively and the annual incremental growth rates will be within the range of 14-19%," the Bank of Russia said.
Dynamics of the households monetary growth would be more moderate and account for 8-13%, the Central Bank said in March.
Source
The tough monetary policy of the Central Bank and the rise of interest rates for deposits by banks stimulate the saving activity of households and proactive growth of retail deposits with banks is expected, the regulator said.
"The rigorous monetary policy and the increase of interest rates stimulate saving activity of individuals," the Central Bank noted. "We expect households money will continue growing actively and the annual incremental growth rates will be within the range of 14-19%," the Bank of Russia said.
Dynamics of the households monetary growth would be more moderate and account for 8-13%, the Central Bank said in March.
Source