Indicators of monetary conditions show mixed dynamics in August and September
10 October 2023
News
In September, interest rates in certain segments of the financial markets, including OFZ, money, credit and deposit markets, continued to grow, reflecting an increase in the key rate. This indicated a tightening in monetary conditions.
The rise in inflation expectations of households and businesses, the narrowing of credit spreads (differences in yields on corporate and government bonds), and high borrowing activity had the opposite trend. The growth rates of monetary aggregates remained near their highs.
For more details, please see the information and analytical commentary Monetary Conditions and Monetary Policy Transmission Mechanism.
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