MOSCOW, November 10. /TASS/. Retail lending rates will go down by the end of this year and in 2024, the Bank of Russia said.

"According to the forecast of the Bank of Russia, retail lending rates will decline by the end of 2023 and in 2024 amid toughening of monetary conditions and growing trend of the population to save. There are no grounds on the side of loan offering to expect an increase of the risk appetite in the banking sector against slowdown of retail lending," the regulator said.

The incremental growth of corporate borrowing was higher in October than in September, according to flash data of the Central Bank.

"Corporate lending growth rates will decelerate in 2024, including with the increase of the projected key rate path," the Bank of Russia said.