Monetary conditions ease in November–December but remain tight
20 January 2026
News
Interest rates in the money and bond markets were mainly declining in December. Household and business inflation expectation were still increasing, while market expectations were decreasing.
Interest rates on loans and deposits continued to go down in November. It was especially noticeable in the long-term segment of corporate lending.
The annual increase in monetary aggregates in December slowed significantly compared to November.
More details are available in the information and analytical commentary Monetary Conditions and Monetary Transmission.
Preview photo: Diva photo / Shutterstock / Fotodom