Borrowing rates for Russian companies likely to fall in 2012 - Ulyukayev
MOSCOW. Feb 3 (Interfax) - Borrowing rates for Russian companies are likely to fall in 2012, First Deputy Chairman of the Central Bank of Russia (CBR) Alexei Ulyukayev said at Russia Forum 2012, which is organized by Sberbank and Troika Dialog .
"The rates are more likely to fall than rise," he said.
A vote was held at the forum on expectations regarding rates for ruble-denominated borrowing by Russian companies in 2012 - 44% of the audience said that rates would increase, 34.9% said that they would fall, and 21.1% said that they would not change.
Ulyukayev added that if he had participated in the voting, he would have voted for the falling rate.
"I base this vote on my own view - not on the Russian reality, but on the global reality. Our rates are a direct consequence of global rates," he said.
With regards to the global liquidity situation, demand for liquidity will be a bit lower this year than it was last year, he said. "In this connection, the pressure placed by global factors on Russian liquidity and Russian borrowing rates won't be so great," Ulyukayev said.