VTB Head turned to the “Greek gods” in the Central Bank with a request to “rubanut” bet – RBC

head of VTB Andrey Kostin

Photo: Yekaterina Kuzmina / RBC

Andrei Kostin said that the Central Bank before the meetings of the board looks at the sky and calls the controller manual, “as the Greek gods’, to lower the rate. He suggested that the Central Bank at the next meeting “rubanut” rate to 10%

The head of VTB Andrey Kostin, speaking at the International Financial Congress of Friday, compared the members of the Bank of Russia Board taking a decision on the key interest rate, with the Greek gods, reports TASS

«Almost in all, we support the central bank, but each time the board of directors, I look at the sky and as the Greek gods, board members say, please, lower the bid.” – said Kostin.

He listed sensitive challenges faces banking sector is increased costs capital, low demand for loans, the high cost of money, RBC reports. “All these factors contribute to the fact that the banking business has become less attractive than before, the yield was lower,” – admitted gosbankir

According to him, it is important to reduce the cost of central bank money.. If the data of Rosstat show decline in weekly inflation, there is every reason to at the next meeting of the Board of Directors of the Central Bank key rate “half a percentage point as rubanut down ‘ to” banking sector breathe better, “Kostin said.

The next meeting of the Board of Directors Central Bank , which will consider the key rate, scheduled for July 29. At the previous meeting, June 10, the key rate was reduced for the first time August 2015 – from 11 to 10.5%. Chapter regulator Elvira Nabiullina in Interview “Vedomosti” newspaper, published on June 29 reported that the saying “the beginning of the cycle for interest rate reduction” is premature. “We can take a break, because we have to be sure that any development of the situation will not lead to the fact that we are seriously deviate from our goal of 4% by the end of 2017 of the year”, – noted she .