Deputy Chief of Staff of the Presidential Executive Office of the Russian Federation Maxim Oreshkin assessed the consequences of the increase in the Central Bank's key rate.
The former Minister of Economic Development of Russia spoke on this topic during a speech on the VTB forum “Russia Calling!”
The official noted that a significant portion of deposits are concentrated among a small circle of depositors, RIA Novosti reports.
Because of this, the increased income from the increase in the key rate will be concentrated among a small group of the population.
Oreshkin emphasized that the increase has twofold consequences.
Thus, on the one hand, a high key rate allows us to “cool” demand and reduce the volume of lending.
But, on the other hand, there is a redistribution of income among different groups of the population, the official said.
Meanwhile, in Russia there is an increase in the average maximum interest rate on deposits.
Deposits of the top 10 banks give an average rate of 21.56%. This is a historical record.
At the same time, VTB predicts that in the first months of 2025 the figure will reach 25%.
Author: Dmitry Bobrov
