Import substitution will receive a loan // SMEs are promised loans at 3–4.5% per annum

To attract small and medium-sized businesses to import substitution, the authorities are piloting a new program of concessional lending for investment purposes – at only 3% and 4.5% per annum. This tool will be available to companies in the processing, logistics, agricultural processing and hospitality industries. In order to reduce the cost of lending, it … Read more

The Bank of England made its bet // The British regulator supported the trend towards tightening monetary policy

The Bank of England on Thursday, following the US Federal Reserve System and the European Central Bank, decisively raised the interest rate – by 50 basis points at once, to 1.75% per annum. This was the most significant increase in the indicator over the past 27 years. In this way, the regulator is trying to … Read more

The US Federal Reserve raised the base interest rate to 2.25-2.5% per annum

The US Federal Reserve System (FRS) raised the base interest rate for the second time in a row – by 0.75%, to 2.25-2.5% per annum. The last time the regulator raised the rate on June 15 was also 0.75%, to 1.5–1.75%. . In support of these goals, the Committee has decided to raise the target … Read more

Fed keeps step // Key rate raised again by 0.75 percentage points

The US Federal Reserve System (FRS) Wednesday, July 27, again raised the key rate, bringing it to the range of 2.25-2.5% per annum. As in June, the increase was “non-standard” 0.75 percentage points. Explaining his decision, the regulator, as before, referred to the rise in inflation in the United States – in June it accelerated … Read more

Longer, softer, more boring // The Central Bank reduced the cost of credit and extended the forecast for the duration of the recession

The key rate has been reduced again, and unexpectedly much: the Board of Directors of the Bank of Russia decided to set it at 8% per annum. In the revised forecast for 2022-2024, the Central Bank assumes that the continuation of the recession in 2023 is inevitable, the recession will be less deep and longer … Read more

The Central Bank stepped over analysts // The key rate was reduced from 9.5% to 8%

On July 22, the Central Bank (CB) refuted analysts’ forecasts and lowered the key rate much more decisively than they expected: by 1.5 percentage points at once, from 9.5% to 8% per annum. Thus, the regulator reacted to the significant strengthening of the ruble and the decline in annual inflation. A significant reduction in the … Read more

The ECB raised interest rates // Infographics

For the first time since 2011, the European Central Bank decided to raise interest rates by 50 basis points at once, to 0.5% per annum. Previously, a 25 bp increase was forecast. As explained by the head of the ECB, Christine Lagarde, this is due to a new assessment of inflationary risks. Earlier, against the … Read more

Borrow but invest // The Ministry of Economy, the Central Bank and the SME Corporation will combine preferential lending programs

For the sake of import substitution by the forces of small and medium-sized enterprises (SMEs), the authorities plan to adjust the cost of investment loans for the sector – in particular, for this it is proposed to combine the concessional lending program for SMEs under government decree No. 1764 and the joint lending incentive program … Read more

Preferential mortgages returned in February

The authorities are returning the interest rate on preferential mortgages for new buildings to the February level, reducing it from 9% to 7% per annum – apparently, this is the biggest economic news of the SPIEF that ended on Saturday. The measure is necessary in order to long-term support the demand for housing, which has … Read more