Bulgarian National Bank Prepares for Eurozone with New Liquidity Rule
The Bulgarian National Bank (BNB) has adopted a new regulation outlining the framework for providing emergency liquidity support to solvent banks once Bulgaria joins the Eurozone
The Bulgarian National Bank has doubled the Main Interest Rate
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The Bulgarian National Bank (BNB)
The BNB announced that from today the main interest rate (MIR) is 1.30%. The increase is more than double compared to November.
The MIR rose for the second time this year, after being consistently at zero percent since 2016. From October 1, the main interest rate in Bulgaria rose to 0.49%.
The increase in the prime rate: September - 0.0%, October - 0.49%, November - 0.59% and December - 1.3%
MIR is used to calculate the penalty or statutory interest in case of delay. As of December 1, the interest for late payments increases to 11.30%.
Several commercial banks in Bulgaria have adopted MIR in determining interest rates on loans.
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