The interest rate on deposits from households with an agreed maturity of up to one year recorded an increase to 2.29% in December 2023, while the interest rate on consumer credit decreased to 5.88%, according to data published by the Central Bank of Cyprus in the January 2024 edition of Monetary and Financial Statistics, on Thursday. CBC notes that the interest rate on deposits from households with an agreed maturity of up to one year recorded an increase to 2.29%, from 2.01% in the previous month. The corresponding interest rate on deposits from non-financial corporations registered a decrease to 2.19%, from 2.29% in the previous month. The same month, the interest rate on consumer credit decreased to 5.88%, compared with 6.26% in the previous month. On the other hand, the interest rate on loans for house purchase increased to 5.16%, compared with 5.04% in the previous month. The interest rate on loans to non-financial corporations for amounts up to pound 1 million decreased to 5.62%, compared with 6% in the previous month. The interest rate on loans to non-financial corporations for amounts over pound 1 million registered an increase to 5.73%, compared with 5.59% in the previous month. Total new loans recorded a decrease to pound 725.4 million in December 2023, compared with pound 743.7 million in the previous month. Specifically, new loans for consumption decreased to pound 17.6 million (of which pound 14.8 mil. pure new loans), compared with pound 23.8 million in the previous month (of which pound 21.3 mil. pure new loans). New loans for house purchase recorded a decrease to pound 161.4 million (of which pound 90.8 mil. pure new loans), compared with pound 237.7 million in the previous month (of which pound 87.8 mil. pure new loans). New loans to non-financial corporations for amounts up to pound 1 million decreased to pound 85 million (of which pound 57.6 mil. pure new loans), compared with pound 91.5 million in the previous month (of which pound 42.4 mil. pure new loans). New loans to non-financial c orporations for amounts over pound 1 million registered an increase to pound 435.6 million (of which pound 150.2 mil. pure new loans), compared with pound 381.9 million in the previous month (of which pound 99.7 mil. pure new loans). Source: Cyprus News Agency