Translation. Region: Russian Federal
Source: Central Bank of Russia –
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Monthly growth of credit to the economy slowed to 0.3% in June from 1.1% in May. Tight monetary conditions continued to constrain lending.
In June, the entire growth of credit to the economy was fully provided by corporate lending: banks' claims on organizations increased by 0.4% over the month. Claims on the population remained almost unchanged over the month.
Broad money supply increased by 0.6% in June, which is comparable to the May growth rate. The bulk of the growth was accounted for by cash rubles and current accounts of the population. This may be due to the fact that during the summer holidays the need for funds for settlements increased. In the segment of term deposits, long-term deposits grew at an accelerated rate, which may be explained by the desire of depositors to fix current rates.
Read more in the information and analytical material "Credit to the Economy and the Money Supply".
Preview photo: Donat Sorokin / TASS
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