... bank deposits are minimal: the state deposit insurance system compensates for losses of ruble deposits up to 1.4 million ₽. Early withdrawal may result in penalties and the loss of some accrued interest. However, inflation and the dynamics of the key rate set by the Bank of Russia impact real yields—historically, the purchasing power of ruble deposits has declined. For instance, over the last decade, real income for deposit holders has decreased by almost 18%. Taxation. Starting in 2024, interest on deposits is subject to personal income tax (PIT) of 13% above a tax-exempt threshold. This threshold equals 1 million ₽ multiplied by the maximum key rate for the year. With a key rate ...

... especially for clients with poor credit histories or below-average incomes. This can impact the purchasing power of the population and reduce overall consumer spending, reflecting adversely on the economy as a whole. Increased Competition Among Banks The decrease in credit card issuance compels banks to seek new ways to attract clients. It is likely that new offers may emerge in the market, including more flexible rates, attractive bonuses, and improved terms for loyal customers. This creates competition among banks, which can be beneficial for clients who will be presented with more favorable conditions. Emergence of Alternative Lending Sources Limitations on ...

... rate during the same period, which was 0.02 percent. However, if we consider the statistics since the beginning of the year, gasoline prices are still lagging behind: AI-92 has increased by 4.2 percent, AI-95 by 3.9 percent, while the average inflation rate in the country was 4.61 percent. On the exchange, after a slight decrease at the end of last week, quotations are also rising. The AI-92 grade reached an all-time high at the end of June and remains at a very high level to this day, while the AI-95 is very close to setting another record. On July 11, Deputy Prime Minister ...

... market conditions for oil products in the U.S. are favorable for consumers: supply exceeds demand, and prices are gradually decreasing without signs of shortages. In Europe, the situation with motor fuel prices is relatively stable. After the upheavals ... ... Monetary Policy. Future decisions by leading central banks (especially the U.S. Federal Reserve and ECB) regarding interest rates and the dollar's exchange rate will impact borrowing costs, investment activity, and consequently, global demand for energy ...

... rubles by the end of 2025. Ministry of Economic Development of the Russian Federation Estimates the average annual ruble exchange rate in 2025 at 96.5 rubles per dollar. Alternative Scenarios Some experts suggest both further weakening of the ruble to 120 ... ... particularly evident in food, household appliances, and pharmaceuticals. Household Incomes The real purchasing power of citizens is decreasing. This is particularly felt by those whose income is pegged to the ruble while expenses are tied to foreign currencies....