Russians are going to continue to withdraw their money from banks if deposit rates continue falling, analysts from Rosgosstrakh Bank and NAFI reported.
According to their survey, another 30% of Russians can withdraw their cash from banks in the near future if banks cut their interest rates. However, 36% of Russians do not plan to change their savings strategies. Another 2% will cash their money partially.
Some Russians are looking for alternative investment opportunities. For example, 7% of respondents will invest in gold; and 6%, in bonds. Another 4% of Russians will choose a conservative investment strategy and buy real estate.
The analysts also asked respondents what they would do in the event of a dramatic decline of the ruble. The majority, 68%, said they would not take their money from banks. Only 16% of respondents said they would exchange all they have for foreign currency.