Economist Loboda explained the future of deposits after banks increase interest rates
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A rarity for Russia
After Friday’s increase in the key rate by the Central Bank, banks began to recalculate deposit rates upward. Some of them have already increased the maximum return on deposits to 15%. The increase is obviously not the last.
Officials say: “There is no talk of lowering the key rate yet.” According to the expert with whom MK spoke, you can make money from the situation.
Andrey Loboda, economist, director of communications at BitRiver: “The situation has finally turned around for the benefit of the people. Inflation is slowing down, at the end of summer the peak of the ruble weakening has passed, and the Central Bank rate continues to rise.
Already in November, the population will have the opportunity to open deposits in banks at 12-13 percent per annum. At the same time, the key rate of the Central Bank will increase by another 1% by the end of the year. You can make good money from this.
Periods of deposit rates at 14-15% are rare for Russia. In principle, the ruble had no reason to weaken this year. I think that the sharp devaluation will be followed by a strong growth of the ruble. Before the New Year, you can quite successfully entrust money to a large bank.
The stock market also looks undervalued by 2-3 times. If there was money, there are plenty of quality investment ideas today.”
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