Interbank credit rates grow

In January 2003, one-day ruble credit rates gained 2.2 percent to 7.3 percent against 5.1 percent in December 2002, the Russian Central Bank reported. The weighted average yield of 90-day federal treasury bills (GKO) amounted to 10.3 percent regarding their volume and maturity in January 2003, which was 2.4 percent less than in December 2002.

In January 2003, the weighed average interest rate for one-year deposits of private individuals reached 4.8 percent, Sberbank not taken into account, which was 0.6 percent less than the similar figure of December 2002. The deposit interest rate, except for demand deposits and deposits at Sberbank, declined 0.9 percent in the reported period, to 11.9 percent. The weighted average ruble credit rate to enterprises at banks, Sberbank not taken into account, with the term under one year dropped 0.2 percent in January 2003 to 14.7 percent.

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