The Bank of Russia lowered its forecast for consumer credit growth in 2027 by 3 percentage points to 3-8%, reflecting not only the impact of monetary conditions, but also tougher macroprudential limits. This is reported on the website of the Bank of Russia.
The expected increase in consumer loans in 2026 remained the same, at 4-8%.
The Central Bank has not changed the forecast range for 2026 for household mortgage debt of 6-10%. For 2027, the regulator lowered the forecast range by 3 percentage points to 7-12%, taking into account the planned tightening of the conditions of the "family mortgage", as well as a smoother recovery in market demand.
