Sergey Drobyshevsky, Principal Researcher at the Gaidar Institute, assessed the situation with the reduction in bank deposit rates in a commentary for Izvestia.
The expert explained this trend by the success in combating inflation, which amounted to 5.6% at the end of 2025, which was lower than most forecasts and, as the expert noted, was primarily the result of the tough and consistent policy of the Central Bank of the Russian Federation. Sergey Drobyshevsky expects monetary policy to ease in the near future.
Therefore, positive developments are expected at the next meeting of the Board of Directors of the Central Bank of the Russian Federation on February 13, 2026—the rate may be reduced to 15–15.5%,” the expert said. He added that this would lead to a reduction in all other rates in the economy.
Responding to a question about the attractiveness of deposits, the expert confirmed that they remain a reliable savings instrument. “With rates above 10% per annum, deposits clearly outperform both stocks and bonds in terms of risk-return ratio,” Sergey Drobyshevsky concluded.