In Kozubekov's opinion, such rate values are considered quite moderate.
He emphasized: “The discount rate and monetary policy primarily influence deposit rates, while the impact on loan rates becomes noticeable in the medium term. There continues to be an excess of liquidity in the banking sector.”
Kozubekov added that the cost of loans is affected not only by the monetary conditions set by the National Bank but also by the exchange rate, inflation expectations, and the cost of borrowing in key trading partner countries.
