Bulgaria's Central Bank Cuts Main Interest Rate
Bulgarian National Bank (BNB) has lowered the benchmark interest rate from 0.05% to 0.03%.
The measure comes into force just a day after BNB announced it would slash interest rates on deposits at the Corporate Commercial Bank (KTB), Bulgaria's fourth-largest bank which was placed under special supervision in mid-June after its Governing Council requested the step citing exhaustion of liquidity.
KTB and its subsidiary Credit Agricole Bulgaria saw rates reduced to their medium market level for the banking system.
- » Bitcoin Hits New Record High, Breaking $8,000 For the First Time
- » Bitcoin Hit an All-Time High Just Below $8,000
- » Proposal: BGN 510 Min Salary From January
- » The CPC Fined the Bulgarian Stock Exchange with 1775 BGN for Unfair Competition
- » Bulgaria's GDP Growth Accelerates to 3.9% in Q3 2017
- » 0.6% Monthly Inflation For October 2017