State Duma Calls for Urging Banks to Reduce Interest Rates and Mortgage Rates

The State Duma has called for urging banks to lower interest rates. This was reported by NEXTA.

Banks are almost unresponsive to the Central Bank's decisions regarding the reduction of the key interest rate and are not decreasing mortgage rates. Banks explain their failure to lower rates by citing an increase in the 'cost of risk,' as half of the borrowers are already earning 40% on loans. To avoid losing profits, banks are making mortgages less affordable.