It is noted that the rate on deposits for up to three months has been reduced from 19% to 16%.

When making a deposit for a period of up to six months, the maximum rate will be 14%, for a period of up to one year - 13%.

Sberbank also lowered the minimum rate on consumer loans to 19.9%.

Earlier, the Central Bank of Russia decided to lower the key rate to 17% per annum.

Economist Denis Raksha commented on this decision of the Bank of Russia.

According to him, the Central Bank raised the rate in order to stabilize the ruble exchange rate and the foreign exchange market in general.

This task, according to the specialist, has been completed.