In the US, a 6% 30-year mortgage on a $200k home costs $1,199/mo (excluding taxes, insurance, etc). That exact same mortgage at Russia’s 19% is $3,178/mo.
No, at 19% it’s basically impossible to finance anything. Good luck buying a home, buying a car, expanding your business. We are talking literal credit card rates for the safest of things. And I’m being generous here, nobody gets the central bank rate, that is the floor, the cheapest rates that only banks get.
19% central bank rates are anything but normal.
In the US, a 6% 30-year mortgage on a $200k home costs $1,199/mo (excluding taxes, insurance, etc). That exact same mortgage at Russia’s 19% is $3,178/mo.
No, at 19% it’s basically impossible to finance anything. Good luck buying a home, buying a car, expanding your business. We are talking literal credit card rates for the safest of things. And I’m being generous here, nobody gets the central bank rate, that is the floor, the cheapest rates that only banks get.