Lagarde Signals Potential ECB Interest Rate Cut in Summer Amidst Wage Growth Uncertainty
European Central Bank (ECB) Governor Christine Lagarde suggested on Wednesday that the ECB might implement interest rate cuts in the summer
Interest rates on customer deposits have recorded a minimum increase in January , according to Bulgaria’s National Bank (BNB) data.
The average annual interest rate on new BGN deposits was 3.89% , while the EUR recorded annual interest rates of 3.44% .
For comparison, in the last month of 2013 BGN deposits were negotiated with an average interest rate of 3.76% , while the EUR interest rate was 3.43%.
On an annual basis, the BNB reports a noticeable decline in interest rates. In January 2013 , deposits in BGN had an average interest rate of 4.73%, while those in EUR had rates of 4.25%.
According to the BNB, consumer loans in BGN reported the highest increase on an annual basis, with 11.52% interest rates in Jan 2013 compared to 12.12% in Jan 2014.
The business loans have recorded a slight raise in January, as the greatest interest rate growth is reported for loans over EUR 1M.
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