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Date: 6 months ago   Category: Finances

Nabyullina: increase in a rate of the Central Bank will lead to reduction in cost of a mortgage


The reason, according to the head of the Bank of Russia, in decrease of the inflation rate which follows increase in a key interest rate. Whether experts agree with Nabyullina's conclusions? Elvira Nabiullina. Photo: Anton Novoderezhkin/TASS can lead Increase in a rate of the Central Bank to decrease in a rate on a mortgage. Such quite unexpected conclusion was drawn by Elvira Nabiullina. The head of the Bank of Russia acted in the State Duma. Deputies among other asked about the reasons of recent increase in a rate and in this light about when the mortgage becomes even more available. Nabyullina told that, raising a rate, the Central Bank reduces inflation. And it, including, will lead to decrease in mortgage rates. Elvira Nabiullina the chairman of the Central Bank of Russian Federation "Mortgage loans — at us rates really decreased and to the middle of summer of this year reached a historical minimum. And growth rates rather high on mortgage loans, and the analysis shows that it occurs because we keep inflation under control. And increase in a key interest rate is directed to keeping inflation under control so that the long-term credits — also decreased on them rates. And we recognize that it will occur on mortgage loans". Not all interviewed economists agreed to comment on Nabyullina's statement. For the reason what usually occurs on the contrary. If the Central Bank raises a rate, then also the credits rise in price. And if reduces, then the credits become cheaper including housing. On the other hand — increase in a rate in our realities not really promotes decrease of the inflation rate, the adviser for macroeconomic of the CEO of the Otkrytiye-broker company Sergey Hestanov continues. Sergey Hestanov the adviser for macroeconomic of the CEO of the Otkrytiye-broker company "In the Russian realities increase in a rate poorly mentions inflation as the Russian inflation, generally carries not monetary nature. Though, purely theoretically, strongly raising a rate, is much higher than habitual levels, it is possible to achieve decrease of the inflation rate. But if inflation is reduced thus, absolutely unclear as it can promote depreciation of mortgage loans as one of components of cost of a mortgage loan is the cost of money because after the noticeable growth of a rate, most likely, the cost of money will increase a little too. The last years in Russia, as a rule, it is less rate of the monetary market, than a rate of the Central bank. But it is possible that, if it is strongly raised, over time the monetary market will raise the rates too. And, respectively, this phenomenon can bring reduction in cost of a mortgage due to decrease of the inflation rate to naught, and even give boomerang effect". In September the Central Bank raised a key interest rate for 0,25%. It occurred for the first time since shock winter of 2014. To add BFM.ru to your sources of news?

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