BNB Reports Slight Increase of Base Interest Rate in August

In August the base interest rate was 0.04% which is an increase of 0.02% on an annual basis, according to Bulgarian National Bank latest statistics.

Compared with July 2014 it grew by 0.01 percentage points.

In August 2014, compared to August 2013, the average interest rate on BGN deposits with agreed maturity in the non-financial sector decreased by 1.05% to 1.59% and on those in EUR – by 1.43% to 1.19%. In comparison with July 2014, the average interest rate on BGN deposits declined by 0.21% and on those in EUR–by 0.07%.

In August, compared to the same month of 2013, the average interest rate on BGN deposits with agreed maturity in the households sector decreased by 1.23% to 2.72% and on those in EUR–by 1.10% to 2.50%.

The average interest rate on BGN overnight deposits decreased by 0.08% to 0.26% on an annual basis and that on EUR overnight deposits – by 0.08% to 0.25%.

In August 2014, compared to August 2013, the average interest rate on BGN overnight deposits declined by 0.23% to 0.56%. The average interest rate on BGN deposits with agreed maturity decreased by 1.10% to 3.53% and on those in EUR–by 0.83% to 3.24%.

The interest rate on loans up to EUR 1M decreased by 0.63% to 6.57% on an annual basis for loans agreed in BGN and on those agreed in EUR–by0.55% to 6.42%.

Interest rates on loans over EUR 1M declined by 2.03% to 5.86% for loans agreed in BGN and for those agreed in EUR–by 0.30% to 7.70%.

The average interest rate on BGN consumer loans declined by 0.30% to 11.35% and on those in EUR–by 0.41% to 9.18% on an annual basis. It decreased by 0.22% to 6.60% on BGN loans for house purchases and on those in EUR–by 0.24% to 7.08%.

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