Greek interest rate spread remains unchanged
The interest rate spread between new deposits and loans remained almost unchanged at 5.71% in October as the weighted average interest rate on new deposits increased to 0.46%, while the corresponding rate on new loans remained almost unchanged at 6.17%, the Bank of Greece said on Monday.
However, the central bank said in a monthly report that the interest rate spread between outstanding amounts of deposits and loans increased to 5.93% as the weighted average interest rate on outstanding amounts of deposits remained unchanged at 0.46%, while the corresponding rate on loans increased to 6.39%.
The weighted average interest rate on new deposits increased by 3 basis points to 0.46% compared to the previous month. In particular, the average interest rate on overnight deposits placed by households remained unchanged at 0.03%, while the corresponding rate on deposits by non-financial corporations remained almost unchanged at 0.18%.
The average interest rate on deposits from households with an agreed maturity of up to 1 year increased by 4 basis points to 1.77%.
The corresponding rate on deposits by non-financial corporations increased by 21 basis points to 3.06%.
