Published on: 2026-04-09
Source: Central Bank of Russia – Central Bank of Russia –
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Interest rates in the money and bond markets fell in March. At the same time, inflation expectations among the population and businesses remained elevated, so real interest rates decreased on average.
Rates on corporate loans and household deposits shifted downward in February. The economy’s credit increased in February due to the renewal of growth in corporate lending. At the same time, the expansion of retail lending halted due to a decline in demand in the mortgage segment and a reduction in non-mortgage loan debt.
Budget operations in March supported an increase in the money supply. As a result, the annual growth rate of the broad money supply remained close to the February level.
Read more in the information-analytical commentary“Monetary-credit terms and transmission of the MPC”.
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