Rate cut needed to stem Russian loans lull

Proposals from Russia’s Ministry of Finance aimed at making bank lending cheaper are unlikely to stop the slowdown in corporate loan growth, said analysts. The central bank should cut its refinancing rates instead, and 50bp reduction before the end of the year would have a marked effect on the lagging loan market.

  • By Steven Gilmore
  • 11 Jul 2013

The ministry outlined a set of measures this week that it hopes will lower lending costs for commercial banks. The proposals focus on improving liquidity, reducing administrative costs and improving protection for creditors.

In order to improve liquidity, the ministry will raise the amount of budget funds it ...

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