Experts predicted that the key rate would increase by 2 percentage points, to 23% per annum. This was supported by high inflation and the weakening of the ruble, which fell against the dollar by 11% in November, to 114 rubles per dollar. The official exchange rate for December 20, 2024 is 103.42 rubles.
Some analysts allowed for the rate to increase to 24-25% per annum. This level should become the ceiling, economists noted. No one expected the rate to remain at 21% per annum.
What will happen to the deposits?
The market has already priced in a 1-3 p.p. increase in the key rate from the current level. Banks have begun to raise rates ahead of the Central Bank's decision. Thus, Sberbank increased its deposit yield to 22.5% per annum, VTB - to 24% per annum. Maximum deposit rates in the largest banks in the first ten days of December 2024 reached a record 22.08% per annum.
The growth of rates is also influenced by the desire poland number for whatsapp of banks to attract depositors before the New Year. You can compare interest rates on deposits in different banks and choose where it is more profitable to put your money in the "Deposits" section on Compare.
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