MOSCOW, May 7. /TASS/. Russians' demand for cash increased in March-April amid adaptation to tax changes and temporary internet disruptions, according to the Summary of the Key Rate Discussion published on the Bank of Russia's website.
"Demand for cash also increased in March-April. Participants noted that this could be due, in particular, to adaptation to tax changes, as well as temporary internet disruptions and the population's desire to have a reserve of payment methods that are not dependent on the operation of digital infrastructure," the regulator said.
The regulator noted that such a redistribution between cash and non-cash funds does not create independent inflation risks, as it only leads to a change in the structure of the money supply. At the same time, the savings activity of the population as a whole remained high, although preferences gradually shifted towards savings accounts, shorter-term deposits, securities and real estate.