Statistics on Interest Rates applied by Monetary Financial Institutions

The Central Bank of Cyprus has today released the statistics on interest rates applied by monetary financial institutions in Cyprus on deposits and loans in euro for the reference month of May 2017. These statistics are presented in Tables 7, 8, 9 and 10 of the June 2017 edition of Monetary and Financial Statistics.

The main developments in interest rates on new deposit and loan contracts, including contracts which were renegotiated, are summarised as follows:

Deposit Rates

• The interest rate on deposits from households with an agreed maturity of up to one year remained unchanged at 1,37%, compared with the previous month.
• The corresponding interest rate on deposits from non-financial corporations rose to 1,48%, compared with 1,37% in the previous month.

Lending Rates

• The interest rate on consumer credit recorded a decrease to 4,04%, compared with 4,19% in the previous month.
• The interest rate on loans for house purchase fell to 2,76%, compared with 2,88% in the previous month.

The interest rate on loans to non-financial corporations for amounts up to €1 million registered a decline to 3,92%, compared with 4,06% in the previous month. The interest rate on loans to non-financial corporations for amounts over €1 million recorded an increase to 3,70%, compared with 3,60% in the previous month.

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