In Russia decreased rates on long-term credits

For the first time since the beginning of the year in Russia decreased rates on long-term consumer loans. The weighted average rate on loans 30 largest banks, declined in April to 20,16%. Previously, the cost of long-term credits grew. The growth peak value of short-term loan was in January, when in January this indicator reached 33,68% per annum. However, since February, rates on short loans also decreased in April, the index stood at 29,34%. The growth rates on loans was due to the devaluation of the ruble and the rise in rates on the interbank lending market and the increase in the key rate of the Russian Federation. The reduction of the key rate and the stabilization of the situation in the market has enabled banks to reduce interest rates on deposits and start a new cycle of reduction on loans, reports "Prime".