The Central Bank of Russia published its latest assessment of monetary conditions and transmission, reporting that money market rates remained close to the key rate in September while government bond yields for maturities of two years or more rose notably. Broad money growth continued to slow but remained near its highest levels of the past 12 months. Corporate loan rates edged up in August, while retail loan rates declined and estimated unsubsidised loan rates decreased slightly. Deposit rates broadly paused their decline in August and September, with increases in some segments. Annual growth in broad money, measured by M2X, slowed slightly in August, and high frequency data indicated further deceleration in September.
Central Bank of Russia reports money market rates near key rate and higher longer term government bond yields
The Central Bank of Russia reported that September money market rates stayed close to the key rate, while government bond yields for maturities of at least two years rose notably. Loan and deposit rate movements were mixed, and broad money growth continued to decelerate.