2023-04-27 10:11:22
A period awaits us in which interest rates will be relatively higher. Because we went through the period when they were abnormally low. This is how banker Levon Hampartzumyan commented on the BNB’s decision to raise the rate of mandatory minimum reserves from 10% to 12%.
“Some of the consumer and mortgage loans will also start to become more expensive, it depends on how the contract is structured. Part of the tools to fight inflation is to raise interest rates, to target some of this free money that is in the market and that is not covered by the other country with goods and services, to go back,” he explained to BNT.
“The BNB is very guarded. It says – look, the sharp increase in indebtedness may lead to difficulties in the future for certain credit portfolios that were more aggressive. This is what the BNB says – no more, no less. It does not predict a crisis, it warns to be careful,” said Levon Hampartzumyan.
However, according to the banker, the increase in deposits means confidence in the banking system. “And it means a working economy in which a part of people who earn have the opportunity to save. Both for loans and for deposits we can expect a period with higher interest rates, now the dynamics will not be dramatic, rather gradual” , Hampartsumyan commented.
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