The outflow of money of the population of Russia from bank deposits in February 2022 amounted to 1.2 trillion rubles. And this is the biggest monthly churn since at least 2008.. Moreover, most of the outflow occurred in the last week of the month, namely from February 24, when the Russian Federation attacked Ukraine. It is reported by the Central Bank of the Russian Federation.

It is specified that the amount of money that the population keeps in Russian banks decreased in February by 1.2 trillion rubles in absolute terms, in relative terms - they decreased by 3.5%.

The situation changed when the Central Bank of the Russian Federation decided to raise the discount rate to 20%. Because of this, banks have raised interest rates on deposits and it has become more interesting to keep money in banks..

If the outflow of money resumes, then the Central Bank will again raise the discount rate. What does this mean for the economy? Interest increases not only on deposits, but also on loans.

This means that loans for the population and businesses become inaccessible..

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Earlier, the Central Bank of Russia raised the discount rate to 20%. It was noted that the Bank of Russia would make further decisions on the key rate based on an assessment of risks from external and internal conditions and the reaction of financial markets to them, as well as taking into account the actual and expected inflation dynamics relative to the target and development of the economy.