National Bank lowered the rate on overnight

Written by admin on June 20th, 2009

National Bank lowered the refinancing rate on overnight loans by 2 percentage points. Starting Monday Night loans secured government bonds worth 16% per annum, unsecured - 18%.

The last time the National Bank of Ukraine changed its value overnight on 17 February this year. And rates on overnight on bail gosobligatsy raised by 2 percentage points - Up to 18% on unsecured - to 3 PM - Up to 20% per annum.

According to experts, the actions of the National Bank to reduce the cost of the night of resources - rather a reaction to the situation in the country's economy as a step toward the banking system. According to Goskomstat, the inflation in May slowed to 0.5%, which has a minimum value in the current year. -Trends-building hryvna, as in the foreign exchange market and on credit, obviously. NBU and confirms that its decision-, - explains the Director of Treasury Bank Andrei Voitenko.

At this time, rates on the interbank credit market is far below the rates of the NBU refinancing. Therefore, the bankers do not believe that lowering the cost of overnight regulator will have a significant impact on the price grivnevyh credit resources for the system. Now at the Interbank overnight can be taken by 3-5%. In addition, banks have to cope with the liquidity, because NBU refinansiruet far from each bank. It is therefore unlikely to be the situation in the Interbank as a change, - says head of the dealing bank Khreschatyk Valery Doaga.

Despite the decline in the rates of the NBU refinancing and low cost natsvalyuty for Interbank Lending, cheap hryvnya to the final consumer - the borrower - in the near future does not come.

The question is not the cost of credit resources, and availability hryvna and its quantity. Liquidity is distributed unevenly in the system, so a massive broadside trend toward lending to talk sooner. Indeed, the liquidity returns to the market, but it is not available to all banks and it is not enough to lower interest rates. In this connection, we can not speak for an automatic reduction of the cost of credit resources, for example, for enterprises, - says analyst company invest - Troika Dialog Ukraine Irina Piontkovsky.

In addition, banks are still ostorozhnichayut with their clients, and even if we give credit, it invested in the cost of high risks of default.

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