There is a possibility for depositors to receive a bonus of 1-1.5% on top of the base rates due to changes in the deposit sector. This has been reported by Kontrakty.UA.
In March, many factors will play a crucial role. For instance, the state of the country's economy, the situation in the currency market, and a range of foreign policy factors related to the conclusion of the war and the volume of aid received will all be significant.
How the situation in the deposit sector will change in March
Banker Dmytro Zamotaiev mentioned in a conversation with 24 Kanal that the most significant factor will be the current level of inflation and the NBU’s strategy for controlling it.
The next meeting of the NBU's Monetary Committee is scheduled for March 6. As Zamotaiev predicts, there are two possible scenarios:
- The discount rate will remain at 14.5% (therefore, other monetary instruments will also remain unchanged: the overnight deposit certificate rate will be 14.5%, three-month deposit certificates will be at 17%, and refinancing loans will be at 17.5%).
- The discount rate may be increased once again by approximately 0.5 to 1 percentage point, which would lead to mirrored changes in other monetary instruments. This means we anticipate that the discount rate could reach 15 to 15.5%, while the rate for three-month deposit certificates could rise to 17.5 to 18%.
As Zamotaiev states, in this case, the "competitive struggle" among banks for depositors would become relevant again. This would signal the start of various promotions.