MOSCOW: Russian lending activity is expected to increase in the remaining months of the year due to lower rates, the central bank said on Wednesday in a regular publication analysing the banking sector.
The central bank cut its key lending rate for the first time in nearly a year in June to 10.50 percent from 11.00 percent, which has led to cheaper borrowing. “Banks assume that the tendency of softening credit conditions for borrowers and higher demand for new loans will continue in the third and fourth quarters of 2016,” the central bank said in the document.
