The head of the Bank of Russia Elvira Nabiullina explained the interest of Russians in investments on the air of the Russia 24 TV channel. The agency “Prime” informs about it.
According to her, a decrease in deposit rates amid the emergence of convenient investment mechanisms leads to the fact that an increasing number of Russians enter the stock market. Nabiullina noted that the regulator has been fixing this trend for several years. So, in 2018, the number of Russians who entered the stock market increased by one and a half times, then twice, and last year there was a rapid growth of interest in the stock market. “In 2020, we carried out a soft monetary policy, which is, of course, good, for those who borrow from banks, loans became cheaper, but we see that people who expected higher returns were transferring money from deposits in banks to the stock market, “she said.
Nabiullina noted that one of the reasons is that the services are very convenient: digitalization in the financial market is quite developed, so it is very easy for people to enter the stock market. In addition, the institution of individual investment accounts developed, including those with tax incentives. “The quality of brokerage services and management companies improved,” she said.
According to Nabiullina, if this is a healthy process, it can be assessed positively, since people have much more opportunity to choose where to invest their free money.