Based on the figures, interest rates on deposits, on consumer credit and on house loans were up in the tenth month of the year, compared with September.

The interest rate on deposits of households with an agreed maturity of up to one year increased marginally in October to 1.53% compared with 1.52% in the previous month, and is the second highest among the Eurozone members. The average interest rate on deposits for households with an agreed maturity of up to one year in the Eurozone is 0.66%.

The corresponding interest rate on deposits of non-financial corporations decreased to 1.45% compared with 1.57% in the previous month and is the highest in the Eurozone. The average corresponding interest rate in Eurozone is 0.25%.

The interest rate on consumer credit increased to 4.56% compared with 4.38% in the previous month, while the average in Eurozone is 5.21%.

The interest rate on loans for house purchase increased marginally to 3.37% compared with 3.36% in the previous month and is the second highest in Eurozone where the average is 2.06%.

The interest rate on loans to non-financial corporations for amounts up to €1 million was down to 4.31% compared with 4.51% in the previous month and is the third highest in Eurozone, where the average is 2.76%.

In contrast, the interest rate on loans to non-financial corporations for amounts over €1 million increased to 4.43% compared with 4,27% in the previous month and was the second highest in Eurozone, where the average is 1.467%.

Source: Famagusta Gazette