The highest average rate offered by Top 10 Russian banks on ruble retail deposits came in at 7.94% in April 11-20, the Bank of Russia's press service reported Monday.
During the first ten days of April the indicator stood at 7.8%, i.e. up 0.14%.
For the record, on March 27, 2017 the Central Bank of Russia lowered its key rate by 0.25% to 9.75%.
The regulator specified that inflation has slowed down faster than forecast, and made it clear that it admits further monetary easing in the second and third quarters of the year.
Russia's Top 10 banks that hold most ruble retail deposits include Sberbank, VTB 24, VTB Bank of Moscow, Raiffeisenbank, Gazprombank, B&N Bank, Alfa Bank, Otkritie FC Bank, Promsvyazbank and Rosselkhozbank.
The regulator recommends that banks should not exceed the highest average rate at Top 10 lending institutions by more than 3.5% (it was allowed to exceed the highest rate by 2% until end 2014).
