Time deposit rate slips 12 bps in Oct, average loan rate rises by 29 bps

EconomyMacroeconomy Tags: Banking, BoG, Rates

After remaining almost flat in September, Greek households’ new time deposit rate fell by 12 basis points (bps) to 1.06 percent in October, Bank of Greece (BoG) data showed on Wednesday.

The October rate corresponds to a new low in the period since Greek joined the euro. The cumulative drop by 75 bps after the imposition of capital controls reflects the elimination of competition in the domestic market, since the core Greek banks that c...

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