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Financial News: Monetary policy indicators in August – September changed in different directions, remaining moderately tight.

Financial News: Monetary policy indicators in August – September changed in different directions, remaining moderately tight.

Published on: 2026-10-09

Source: Central Bank of Russia – Central Bank of Russia –

An important disclaimer is at the bottom of this article.

Money market rates in September remained close to the key rate, while yields on OFZs with maturities of 2 years and more increased significantly.

Loan rates for companies slightly increased in August, while loan rates for the population decreased. Market loan rates, according to estimates, slightly decreased. The decline in deposit rates in August – September halted, and in some segments they increased.

The annual growth of the broad money supply (M2X) in August slightly slowed down, remaining near the highs of the past 12 months. In September, according to preliminary data, the slowdown of M2X continued.

Read in more detail in the informational-analytical commentary “Monetary conditions and MPC transmission”.

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