percentage points, to 23% per annum. This was suppo
rted by high inflation and the weakening of the ruble, which fell against the dollar by 11% in November, to 114 rubles per dollar. The official exchange rate for December 20, 2024 is 103.42 rubles.Some analysts allowed for the rate to increase to 24-25% per annum. This level should become the ceiling, economists noted. No
one expected the rate to remain at 21% per annum.What will happen to the deposits?The market has already priced in a key rate
increase of 1–3 percentage points from the current level. Banks have begun poland number for whatsapp to raise rates ahead of the Central Bank's decision. Thus, Sberbank increased its deposit yield to 22.5% per annum, VTB — to 24% per annum. Maximum deposit rates in the largest banks in the first ten days of December 2024 reached a record 22.08% per annum.The growth of rates is also influenced by the desire of banks to attract depositors before the New Year. You can compare interest rates on deposits in different banks and cho
Important now
December 20
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The Central Bank left the key rate at 21% per annum. What is the reason and what should depositors expect
On December 20, 2024, the regulator held another meeting on the key rate issue.
The Board of Directors of the Bank of Russia left the key rate at 21% per annum, the Central Bank's press service reported .
The Central Bank left the rate unchanged because monetary conditions tightened more significantly than the October key rate decision had envisaged. This was facilitated by factors independent of monetary policy: tightening of macroprudential policy, planned normalization of banking regulation, and increased requirements for banks to borrowers.
The growth of rates for borrowers and the cooling of credit activity create preconditions for inflation to return to the target, despite the increased current growth of prices and high domestic demand, the Central Bank believes. They predict that annual inflation will decrease to the target value of 4% in 2026.