MOSCOW, April 30 – RIA Novosti / Prime. Gazprombank, the third bank in terms of assets in the Russian Federation, following the reduction in the key rate of the Central Bank from May 1 will reduce interest rates on ruble and foreign currency deposits, reported RIA Novosti deputy chairman of the bank Alexander Sobol.
Bank of Russia on Thursday decided to reduce the key rate from 5 May by 1.5 percentage points – to 12.5% per annum and confirmed the readiness to further ease monetary policy to the weakening of inflationary risks.
“We are planning to close lower rates on certain loans and retail deposits”, – said Sobolev. According to him, reduction of interest rates on deposits is scheduled from May 1.
According to ruble deposits rate will be reduced to 6,6-11% of 8,2-12% per annum. Interest rates on dollar deposits dropped to 2,45-3,5% to 2,9-4% per annum; for deposits in euros – up to 1,95-3% to 2.6-3.1% per year.
With regard to interest rates on loans, the bank decides to change them after monitoring market interest rates. “The monitoring will be decided on the revision of interest rates on loans in the bank” – said Sobol.
The decision regulator cut the key rate he described as generally adequate situation. The bank expected a decline by 1.5-2 percentage points, said Sobol. “The impact (reduction of the key rate – Ed.) To revive credit demand – limited, it needs 1.5-2 percentage points,” – he replied to a question about the impact of the Central Bank rate decision on revival of demand for loans to borrowers.
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