Press Secretary of the President of Russia Dmitry Peskov clarified that Vladimir Putin's instruction to maintain lending rates concerned mortgage loans, RIA Novosti reports.

"Putin instructed to ensure the preservation of mortgage rates - the same rates that are indicated in mortgage loan agreements," he explained.

Earlier, the president instructed to ensure the preservation of the previous rates on loan agreements concluded before the Central Bank raised the rate to 20%.

The current increase in the key rate has become a historical maximum. Prior to this, the record value was the rate of 17% per annum, set in December 2014.

As the head of the Central Bank Elvira Nabiullina commented, the conditions for the Russian economy have changed dramatically due to the introduction of new foreign sanctions, which led to a significant change in the ruble exchange rate and limited the ability to use gold and foreign exchange reserves. This, the head of the Central Bank emphasized, requires the use of a wide range of instruments to maintain financial stability, including raising the rate to a level that compensates citizens for increased inflationary risks.

bbabo.Net