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Russia’s banking sector expected to move from surplus to liquidity deficit in 2024

The Bank of Russia also expects that inflation will slow down and amount to 5.7% in quarterly terms in the Q1 of 2024

MOSCOW, February 27. /TASS/. The Bank of Russia expects that in 2024 the banking sector will move from a surplus to a liquidity deficit and that the structural liquidity deficit will range from 0.6 to 1.4 trillion rubles ($6.56-15.3 bln) at the end of 2024, according to the regulator’s report on the medium-term forecast.

"The banking sector is expected to move from a liquidity surplus to a liquidity deficit during 2024. At the end of 2024, the structural liquidity deficit will range from 0.6 to 1.4 trillion rubles," the statement said.

The Bank of Russia also expects that inflation will slow down and amount to 5.7% in quarterly terms in the Q1 of 2024. "According to the forecast of the Bank of Russia, in the first quarter of 2024, inflation will slow down and amount to 5.7% q/q with seasonal adjustment in annual terms, and annual inflation will be 7.6% y/y. Taking into account the current monetary policy, annual inflation will fall to 4%," the statement said.

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Top stories from the Russian press on Wednesday, May 15th

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Serbian president thanks Russian authorities for supporting Belgrade’s sovereignty

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Attack on Fico targets friendship with Russia — former Slovak prime minister

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