The figures show that the interest rate on loans for house purchases recorded the largest decrease and fell to 4,37% compared with 4,67% in the previous month.

The main categories of interest rates on loans to non-financial corporations also registered decreases. Moreover, the interest rate on loans for amounts over €1.00 million recorded the most significant decline and dropped to 5,55% compared with 5,90% in the previous month.

As regards the Deposit Interest Rates, the CBC statistics show that the majority of interest rates on deposits from households registered a decline. The interest rate on deposits from by households with an agreed maturity of up to one year decreased to 2,49% compared with 2,67% the previous month.

In contrast, the corresponding interest rate for non-financial corporations rose to 2,49% compared with 2,42% the previous month. Interest rates on loans to households also recorded a general decrease.

Source: Famagusta Gazette