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The following article was published in our article directory on November 24, 2010.
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Russia Loans Interest Rates Create History Minimum

Article Category: Business

Author Name: xia zihui

Russia's real economy, the weighted average lending rate has fallen to historically low: do not include savings banks, including the 10 month average lending rate is 8.9%, after the lowest point in July 2007 to 9.2% when the Russian President and the Prime Minister repeatedly expressed the need to lower commercial lending rates, but interest rates may be lower than the level of inflation this year (about 7% to 8%).

According to the Russian Central Bank recently released data, in October the banks (not including savings banks) to the payment of the ruble loans to the real economy weighted average interest rate of 8.9%. Reduction compared with 0.8% last month, since early 2010 has been reduced from 4.9 percentage points. According to central bank data, October is already the lowest point in history, after the minimum lending rate was in July 2007 to 9.2%. Since then, commercial lending rates gradually increased, especially in the economic crisis. Lending on the real economy the average interest rate being highest in January 2009, when up to 17.4%.

Russia's largest commercial lender loan market savings bank said its lending rates in the market average. "We are not the weighted average lending rate for regular monitoring, but our interest rate levels with the central bank said there is not much difference." Savings Bank Vice President Andrei East Siji He said, "So, while accounting for savings banks 31% of commercial loan market, but with our target, lending on the real economy weighted average interest rate of less than one year there will be no substantive change. "

Lower interest rate loans to the real economy is a national leader of the bank's main tasks. Prime Minister Vladimir Putin in May, said: "The reduction of inflation, the monetary authorities of the second task is to make the real economy can more easily obtain bank loans." President Dmitry Medvedev called for: "We should reduce the lending rates throughout the economy. "In addition, state leaders said many times, despite the central bank's refinancing rate has reached a record low (7.75%, from December 2008 has been 5.25 percentage points lower), but lending rates are still high .

Although the refinancing rate from June 1 has not changed, but the lending rate to the real economy continues to decline. From 6 Since the beginning of the weighted average lending rate decreased by 2.6 percentage points. But the market believes that interest rates continue to reduce the likelihood is very small. East Siji He said: "The lending rates continue to drop restrictions on the existence of objective, that is inflation." The official inflation forecast for 2010 was 7% to 8%, but most experts believe that the actual value will be higher. Secretary for Financial Markets Central Bank October forecast inflation this year may reach 8% to 8.5%. Finance Minister Oct. 19 forecast figures 8.1 to 8.2 percent. "I think we can see that November to 12 months Weighted average interest rate of loans to the real economy down, but has no great potential." Absolut Bank Vice President Yevgeny said, "Possibly, it will eventually be a target slightly less than 8%. "

About the Author: I am a editor, http://www.cheaponsale.com provides manual binding machine,400w power inverter, welcome to visit!

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