Nominal and real interest rates have increased across most financial market segments, according to a recent update. Despite the rise in rates, inflation expectations among households and businesses have decreased but remain historically high.
The increase in interest rates, coupled with macroprudential measures, is limiting growth in household lending. At the same time, high deposit rates are encouraging households to favor ruble deposits.
Further information can be found in the report titled "Monetary Conditions and Monetary Policy Transmission Mechanism."