Interest rates on ruble deposits in banks are growing

The average maximum rate in the top 10 Russian banks amounted to 6.67%, having increased by 0.13 p.p. in the first decade of October. Prior to that, interest rates in the Russian banks were declining from their March highs, having grown only slightly in August.

Banks are trying to preserve liquidity on their balance sheets by increasing the attractiveness of deposits for customers. At the same time, the Central Bank lowered its key rate at the last meeting.