Yields on deposits of legal entities rose to the highest level since 2014

At the same time, companies prefer to open shorter-term deposits. The share of term deposits of one to three years and six months to one year in the total volume of placements in September amounted to 0.18% and 0.41%, respectively.

Companies place most of their money for periods of up to 30 days: they represent more than 90%. The rate of such deposits increased to 17.6% annually, which in a period of 11 years coincides only with the result of March 2022, Kommersant indicated.

Experts interviewed by the newspaper explained that companies prefer short deadlines for several reasons, including economic uncertainty. Short-term deposits make it possible to react more quickly to changes and provide liquidity for operational financial management, said Gennady Fofanov, president of InvoiceCafe.

According to him, companies are looking for flexibility, since a new increase in the Central Bank’s interest rate could negatively affect their financial plans. In addition, legal entities need funds to cover operating expenses and unexpected expenses, the expert added.

On October 25, the Central Bank raised the key interest rate by 200 basis points. p., up to 21% annually. This was necessary to return inflation to the target (4%) and reduce inflation expectations, Elvira Nabiullina, president of the Bank of Russia, later explained.