Monetary conditions remain moderately tight as indicators show mixed movements in August–September
9 October 2026
News
In September, money market rates remained close to the key rate, while OFZ yields for maturities of two years or more went up notably.
Interest rates on corporate loans edged up in August, while those on retail loans decreased. According to estimates, unsubsidised loan rates edged down. In August–September, deposit rates paused their decline, while rising in certain segments.
Annual growth in broad money (M2X) slowed slightly in August, staying close to its highs over the past 12 months. According to high-frequency data, M2X growth continued to decelerate in September.
More details are available in the information and analytical commentary Monetary Conditions and Monetary Transmission.
Preview photo: Artistdesign.13 / Shutterstock / Fotodom