Monetary conditions tighten in July
9 August 2024
News
Nominal interest rates notably increased in most financial market segments. The tightening impact of nominal interest rates on monetary conditions was partially offset by a rise in households’ and businesses’ inflation expectations.
In June, credit activity in the corporate segment remained high and that in the retail segment went up due to higher demand attributed to the forthcoming termination of the non-targeted subsidised mortgage programme. According to recent data, the growth of monetary aggregates continued to decelerate in July.
More details are available in the information and analytical commentary Monetary Conditions and Monetary Policy Transmission Mechanism.