Translation. Region: Russian Federal
Source: Central Bank of Russia –
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Nominal interest rates declined significantly, while the decline in yields in real terms was less pronounced due to the slowdown in current price growth. Inflation expectations of the population changed unevenly and remained elevated.
The reduction in rates in June affected almost all segments of the credit and deposit market. Bank lending conditions remained tough. Against this background, the growth of credit to the economy and the money supply was restrained. In July, according to preliminary data, the same trends were maintained in the dynamics of rates and credit activity.
Read more in the information and analytical section comments "Monetary conditions and the transmission mechanism of monetary policy."
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