«Интрига была только в том, когда Банк России приступит к понижению». Мосбиржа оценила решение ЦБ по ключевой ставке

Снижение ключевой ставки Банком России оказалось ожидаемым шагом для банковского сектора и вписалось в общий тренд на смягчение денежно-кредитной политики, сказал «Российской газете» старший управляющий директор Московской Биржи по розничному бизнесу, развитию электронных платформ и проекта «Финуслуги» Игорь Алутин.

«Понижение ключевой ставки укладывается в рамки ожиданий банков о начале смягчения денежно-кредитной политики, — отметил он. — На это указывало снижение ставок по вкладам после заседания ЦБ в апреле 2025 года».

По данным индекса вкладов «Финуслуг», за это время доходность депозитов сроком на 3 месяца сократилась на 0,22 процентного пункта, на шесть месяцев — на 0,47 п.п., а на 12 месяцев — снова на 0,22 п.п. Особенно заметно скорректировались полугодовые вклады.

Максимальные ставки в двадцатке крупнейших банков также пошли вниз — с 21-22% до 20,4-21% годовых. Вложения на три месяца практически сравнялись с новым уровнем ключевой ставки, а вклады сроком от полугода уже опустились ниже нее.

Не остались в стороне и кредитные продукты. Согласно индексу кредитов «Финуслуг», отражающему среднюю полную стоимость кредита (ПСК) в топ-20 банков, показатель снизился на 0,12 п.п. — до 31,34% годовых.

«Интрига заседания в июне была только в том, когда Банк России приступит к понижению — многие аналитики ожидали этого на июльском заседании, однако макроэкономическая статистика дала возможность сделать это немного раньше», — пояснил Алутин.

В пресс-релизе регулятора отмечается, что отклонение экономики от сбалансированной траектории снижается. Растет влияние ранее принятых жестких мер на спрос: он замедляется, что создает условия для дальнейшего смягчения политики.

«Мы ожидаем сохранения тренда на понижение ставок по кредитам и депозитам, при этом новый уровень ключевой ставки может придать этому тренду ускорения», — резюмировал представитель Московской Биржи.

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