In November and the first half of December 2024, credit and deposit rates in Russia saw a continued rise, maintaining high levels. This followed the Bank of Russia Board of Directors’ decision to keep the key rate unchanged.
Recent data indicates that both corporate and retail lending growth was slowing down by December. Meanwhile, households were still depositing money with banks, but the annual growth rate of monetary aggregates had decreased.
Further details can be found in the information and analytical commentary “Monetary Conditions and Monetary Policy Transmission Mechanism.”
