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.
- » IMF Chief: Clouds over Global Economy are 'Getting Darker by the Day'
- » The IMF Provides a $ 50 Billion Loan to Argentina
- » Erdogan Claims Turkish Lira’s Loss in Value a Manipulation against Turkey
- » Every third Bulgarian has had Outstanding Loans, According to Eurostat
- » EC Predicts 3.8% Growth in Bulgaria in 2018
- » The Debt of Bulgaria for 2017 Amounts to BGN 25,064 Million