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Credit-
Climate regulation
companies based
Earnings Gasoline rates and prices
OPEX & CAPEX
Ruble exchange Inflation Market-based
rate Currency-based
Finance costs
Interest rate-
Budget based
Key
the
‘net’ assessment of the fiscal policy stance. In addition, one may rule out the effects of factors
indirectly related to the business cycle, such
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22.02.2024
of the monitoring of the maximum interest rates on deposits1 in Russian rubles of the top ten credit institutions2 attracting the largest amount of household
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21.02.2024
of funds, but no more than a total of 1.4 million rubles per depositor (including interest accrued), taking into account the conditions stipulated by
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21.02.2024
in pawnshops are concluded for an amount of up to 25,000 rubles, a little more than 60% — for a period of up to 30
the rate, in terms of both statistical and economic
significance. As a rule, elasticity tends to be low in the case of low-income households.
14
February 2024
Figure 21. Ruble loans portfolio growth12, % MoM SA Figure 22. Loan issuance under subsidies
mortgage loan programmes, billion rubles
4 700
600
3
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rate has made ruble assets more attractive, moderating the demand for imports and, accordingly, foreign currency. This has helped stabilise the ruble exchange rate. The
definition 19.4 9-14 6-11 6-11
Claims on organisations and households in rubles and foreign currency3 22.9 6-11 8-13 8-13
– on organisations 22.8
end of January,
the ruble exchange rate strengthened and amounted to 90.0 rubles per US dollar (-0.4%), 97.6 rubles
per euro (-2.