Lending and deposit interest rates in Cyprus remained by far the highest in Eurozone in November, with the exception of the consumer loan interest rate and despite a decline in some types of interest rates.
Based on data released Thursday by the Central Bank of Cyprus and the European Central Bank, the interest rate for household deposits of up to one year decreased to 2.59% compared with 2.67% in the previous month, remaining, however, for one more month the highest in Eurozone.
The corresponding average rate of the Eurozone is 1.05%.
On the other hand, the corresponding interest rate for non-financial companies rose to 2.53% compared with 2.49% in the previous month, thus remaining the highest in the euro area, while the corresponding average interest rate of the Eurozone is only 0.41%.
According to the same data, all interest rates for loans to households declined.
The consumer loan interest rate fell to 5.30% from 5.72%, becoming the sixth lowest in the Eurozone, while the corresponding average interest rate of the Eurozone is 5.66%.
Home loan interest rate fell to 4.19% from 4.63%, remaining however the highest by far in the Eurozone, while the corresponding average interest rate of the Eurozone is 2.43%.
On the other hand, the main interest rate for loans to non-financial corporations increased. In particular, the interest rate for loans exceeding €1 million dropped to 5.63% from 4.92%.
Still, it is the highest in the Eurozone, where the corresponding average interest rate is at 1.79%.
CNA/CS/KD/MM/2015
ENDS, CYPRUS NEWS AGENCY