The RSPP allowed for a sharp reduction in the key rate at the next meeting of the Central Bank
The Union of Industrialists and Entrepreneurs believes that the Bank of Russia should lower it by 200 basis points at once. Entrepreneurs support the idea, but believe that even 18% is too much. Business representatives from various industries told Business FM that high rates hinder lending, slow down investments and make work unprofitable
The RSPP expects the key rate to be reduced by 200 basis points at once — to 18% — already in July. “There is no point in reducing it by one percentage point. Or we need to take a risk and see how it will affect business activity, inflation, and so on,” the head of the organization, Alexander Shokhin, told Interfax .
Business FM radio station asked entrepreneurs what kind of reduction they expect:
Head of the real estate agency "NDV Group" Alexander Khrustalev:
"My opinion: a reduction is definitely expected - and the leaders said so at the St. Petersburg Economic Forum, and Elvira Nabiullina has already repeated this several times, so I expect at least two percent, maybe even three. Will this help us? It will help the entire market, because when borrowed funds are expensive, there are problems everywhere: problems with mortgages, problems with selling goods for which loans are taken out, and, in general, it is bad for everyone who needs money. All this fits into the final cost of products. Therefore, reducing the rate is a significant step. This is the first thing. The second point, which no one really caught, but they said that after the 25th the Central Bank will publish a new forecast for the medium term for reducing the rate, that is, adjustments will be made. I think there will be a relaxation. And the third point that we are seeing is that all leading banks are going down: even last month there was a 1% reduction in mortgages, in consumer loans - from 2% to 4.5-5%. This is a signal that banks know, feel, understand what will happen."
Head of the company "Masterprof" for wholesale supplies of engineering plumbing Pavel Brun:
"Of course, we expect a more significant rate reduction. For us, such a reduction every month is a signal that after some time we will come to some more or less digestible indicators, at which business can develop. That is, the Central Bank rate should be 7-9%, understanding that then the commercial loan will be 4-5% higher, that is, when the rate for business will be 13-14%. This will already allow us to somehow buy equipment on lease, to optimally use lending, so that not all the money, not all the profit goes to pay interest on the loan. An intermediate reduction, of course, is pleasing - this is a dynamic in the right direction, in a positive direction - but this is an insufficient percentage for business to be able to revive and start investing, investing, expanding, including through commercial lending."
Director of the company "PSO Project" Igor Panasyuk:
"The rate is exorbitantly high. Even after it was lowered by 1%, it will not significantly affect the situation. If we take into account that we work in the construction market, we make underfloor heating, and mortgages at such an interest rate are practically non-existent, then even 18% is not very interesting. 18 is not at all. At least 16-17, but that would also be like a poultice for a dead man. Because normal production rarely works more than 25% profitability. If you give everything to the bank, what's the point of working?"
The next meeting of the Central Bank's board of directors will take place on July 25.
bfm.ru
