Oreshkin said about maintaining the trend of lowering interest rates on loans

© RIA Novosti / Natalia to Seliverstova in fotobanka percent on display. Archival photoOreshkin said about maintaining the trend of lowering interest rates on loans© RIA Novosti / Natalia to Seliverstova the image Bank

The trend to lower rates in the Russian banking sector will continue, despite the fact that lately they have grown up a bit, said the Minister of economic development of Russia Maxim Oreshkin.

«Yes, indeed, the stakes are a little older, and it’s effects including the dynamics of lending. This is a normal situation, because we have short rates are fixed and determined by the Central Bank, long-term – they are volatile. But the General trend of their decrease is, of course, continue,» said Oreshkin in an interview with TV channel «Russia 24».

According to him, the Russian economy has moved into a new reality. «Ten-year government bond was at 7%, now 7.5% is slightly higher, so we’re talking about 50 basis points as a significant change in rates,» he added. The. recalled that a few years ago inflation was at 15%, and now in discussing this indicator is considered «terrible» a variance of a few tenths of a percent from 4%.

«Therefore, the transition to a new reality gives greater stability and predictability for business and promotes investment activity», — the Minister added.

Currently the key rate of the CBR unchanged since 26 March 2018 and is located at the level of 7.25% against 17% at the end of 2014. The next meeting of the Board of Directors of the Bank of Russia, which will address the issue of the level of the key rate, scheduled for July 27, 2018.