Lend­ing and de­posit rates con­tinue to drop

Financial Mirror (Cyprus) - - FRONT PAGE -

The down­ward trend in lend­ing and de­posit rates con­tin­ued in July, with mar­ginal re­duc­tions in bor­row­ing costs for hous­ing and con­sumer loans.

Ac­cord­ing to data re­leased on Fri­day by the Cen­tral Bank of Cyprus, the in­ter­est rate on con­sumer credit recorded a mar­ginal de­crease to 4.22%, com­pared with 4.23% in the pre­vi­ous month.

The in­ter­est rate on loans for house pur­chase fell to 2.75%, com­pared with 2.82% in the pre­vi­ous month.

The in­ter­est rate on loans to non-fi­nan­cial cor­po­ra­tions for amounts up to EUR 1 mil­lion de­creased to 4.03%, com­pared with 4.05% in the pre­vi­ous month. The in­ter­est rate on loans to non-fi­nan­cial cor­po­ra­tions for amounts over EUR 1 mil­lion rose to 3.63%, com­pared with 3.56% in the pre­vi­ous month.

The in­ter­est rate on de­posits from house­holds with an agreed ma­tu­rity of up to one year fell to 1.26%, com­pared with 1.35% in the pre­vi­ous month.

The cor­re­spond­ing in­ter­est rate on de­posits from non-fi­nan­cial cor­po­ra­tions also reg­is­tered a de­cline to 1.38%, com­pared with 1.48% in the pre­vi­ous month.

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