July, the volume of household funds on deposits showed a small, symbolic, but growth. How links to your social networks sustainable is this trend? Will the flow of household funds to the stock market slow down?
June, there was still an outflow from term accounts
. In July, there was stabilization, and in August, a small inflow. Now, the latest operational statistics, which will be updated, seem to show a continuation of this small inflow of deposits to term accounts. Indeed, earlier there was a redistribution to the stock market, the real estate market, current accounts and consumption. We had a peak in the flow to the stock market in the second quarter, now it has slowed down, to the real estate market too, apparently due to the fact that rates are rising, our key rate is rising. We assume that deposit rates will return to a level that will be attractive, to a positive value for people.
— Will the rates really become positive?
Yes This will happen. They may already
The positive zone. If, for example, you now put funds into an annual deposit the year in numbers at the rate that banks offer, and inflation returns to the target level within a year in accordance with our forecast.
— And don’t banks complain about the fact that they issued america email fairly long-term loans at low rates, and now their funding costs are rising?
— Their interest margin is normal, to put it mildly.