Greek loan rates remained well above euro area average in October

EconomyMacroeconomy Tags: Banking, BoG, Rates

The interest rate on households’ new time deposits was further reduced by 14 basis points (bps) to 1.94 percent in October, according to the Bank of Greece (BoG). This was the first reading below the 2-percent mark since Greece’s accession in the eurozone in 2002.

The drop in October led the year-to-date (YtD) time deposit rate contraction to 88 bps, largely reflecting changes in the last seven months.

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