The March reduction of the policy rate from 15% to 14.5% provides grounds for a gradual correction of actual rates on key credit products, such as targeted lending programs for small and medium-sized businesses, car loans, and primary market mortgages.
This opinion was expressed by Serhii Mamedov, Chairperson of the Board of Globus Bank.
The expert believes that at the next meeting of the NBU's Monetary Policy Committee on April 25, the regulator may once again reduce the policy rate by an average of 0.5-1 percentage points, to 13.5-14%, and the rate on 3-month deposit certificates may decrease to 16.5-17%.
"A reduction in the policy rate allows banks to more actively develop credit programs, significantly easing the 'interest rate pressure' on borrowers. Already now, we can talk about a certain guideline by the end of the year: in the second half of the year, with the reduction of the policy rate to 14-12%, interest rates on some loans, especially partner credit programs, may decrease on average by 2-3%," predicts Serhii Mamedov.
According to the expert's assumptions, by the end of the year, the "new" rates depending on the down payment and loan term may be as follows:
