OREANDA-NEWS. February 27, 2010. The present situation in the economy doesn’t create preconditions for raising interest rates on new credits provided and there are even possibilities to cut them.

It was noted by the NBM’s Administrative Board which examined the current macroeconomic situation. At the same time, the NBM informed that thanks to the Administrative Board’s decision of January 25, 2010 on the total sterilization of the excess of liquidity, the current conditions of the money market will be kept in future.

It will result in the stop of reduction of interest rates on deposits and perhaps will contribute to their rise. With the reduction of the local currency devaluation rates and change of tendencies in the home exchange market, it will be more preferable to keep savings in local currency, the fact that will influence on formation of interest rates on the deposits market, the NBM reports.