On March 1, the next session of the Monetary Committee of the National Bank should be held. During this session, the decision on the amount of the discount rate (a month ago, its amount increased by 1.5% - up to 16% per annum) will be approved. Currently, the analysts guess whether the rate will change or not, and do not have a unified view. However, nobody doubts that it will influence the profitability of deposits.
Chairman of the Management Board of Oshchadbank Andrei Pyshny confirmed it during his interview with UBR.ua and forecast the change of deposit interests on the market and in his financial institution.
“The deposit market will feel the effects of macroeconomic trends. Today, the growth of the discount rate influences the fact that the bank increases the deposit offer for consumers. However, you should always understand that the deposit rate, which you are offered, is the risk fee. The high interest rate – agree on the higher risk. We see the opportunity for ourselves, as the savings bank, to conduct the moderate deposit policy. We should be competitive not so much by the rates, as the reliability and restoration of confidence. Oshchadbank should not only monitor market trends, it should start trends”, Pyshny emphasized.
