Interest rates on deposits become positive again, showing a slight increase. At the same time, the interest rates for housing and consumer loans show a slight decrease, according to the data published on Friday by the Central Bank of Cyprus for October 2022, included in the Monetary and Financial Statistics, November 2022 edition.
The interest rate on deposits from households with an agreed maturity of up to one year recorded an increase to 0.19%, compared with 0.11% in the previous month. At the same time, the corresponding interest rate on deposits from non-financial corporations registered an increase to 0.47%, compared with -0.09% in the previous month.
The interest rate on consumer credit decreased to 3.57%, compared with 3.59% in the previous month, while the interest rate on loans for house purchase decreased to 2.93%, compared with 3.06%. At the same time, the interest rate on loans to non-financial corporations for amounts up to €1 million increased to 4.17%, compared with 4.13% in the previous month. The interest rate on loans to non-financial corporations for amounts over €1 million registered a decrease to 3.43%, compared with 3.69% in the previous month.
According to the CBC data, total new loans recorded a decrease to €240.3 million in October 2022, compared with €478.3 million in the previous month.
Specifically, new loans for consumption decreased to €15.1 million, compared with €15.6 million in the previous month and new loans for house purchase recorded a decrease to €72.7 million, compared with €102.9 million in the previous month.
New loans to non-financial corporations for amounts up to €1 million dropped to €42.7 million, compared with €54.1 million in the previous month and new loans to non-financial corporations for amounts over €1 million registered a decrease to €102.6 million, compared with €295.9 million in the previous month.
Source: Cyprus News Agency