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RUSSIA: Average Maximum Deposit Rates Exceed 20%, Expected to Rise Further

RUSSIA
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  • The average maximum interest rate on deposits at Russia's largest banks topped 20% for only the second time ever in late October, Kommersant report. “Experts” cited by the newspaper expect a new record to be set in early November and then be exceeded by another several percentage points by the end of the year. Rates could go as high as 30% during New Year promotions, the piece adds.
  • Citing statements from US intelligence agencies, Bloomberg report that Russia is increasing its efforts to manufacture and disseminate phony videos and bogus information to undermine the legitimacy of the American election and exacerbate already deep divisions. Over the weekend, the Russian Embassy in Washington denied, in a statement on Telegram, that it had anything to do with videos that falsely appeared to show voting fraud.
  • Finance Ministry announces November FX operations at 09:00GMT/12:00 local time. There are no other major data releases scheduled for today.
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  • The average maximum interest rate on deposits at Russia's largest banks topped 20% for only the second time ever in late October, Kommersant report. “Experts” cited by the newspaper expect a new record to be set in early November and then be exceeded by another several percentage points by the end of the year. Rates could go as high as 30% during New Year promotions, the piece adds.
  • Citing statements from US intelligence agencies, Bloomberg report that Russia is increasing its efforts to manufacture and disseminate phony videos and bogus information to undermine the legitimacy of the American election and exacerbate already deep divisions. Over the weekend, the Russian Embassy in Washington denied, in a statement on Telegram, that it had anything to do with videos that falsely appeared to show voting fraud.
  • Finance Ministry announces November FX operations at 09:00GMT/12:00 local time. There are no other major data releases scheduled for today.