Time deposit rate edges down to 0.76 pct, loan rate spikes to 5 percent

EconomyMacroeconomy Tags: Banking, BoG, Rates
Photo by MacroPolis
Photo by MacroPolis

Greek households’ new time deposit rate dropped for the second straight month, albeit at a slower pace, by 3 basis points (bps) to 0.76 percent in October, after a decline by 8 bps in September, Bank of Greece (BoG) data displayed on Friday.

The headline figure for October indicates a new record low since Greece’s euro accession in 2002. However, it remains 31 bps above the eurozone average rate of 0.45 percent.

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