Interest rate spread has widened further
In its interim report on monetary policy, the Bank of Greece highlights that upgrades to Greece’s investment category result from prudent fiscal policies, economic recovery, and better-than-expected macroeconomic and fiscal performances. [AP]
The interest rate spread between new deposits and loans widened to 5.71 percentage points in March, according to Bank of Greece data.
The weighted average interest rate on new deposits remained unchanged at 0.53%, while the corresponding interest rate on new loans increased by 47 basis points to 6.24%.
In March, the weighted average interest rate on all outstanding deposits remained unchanged at 0.54%, while the corresponding interest rate on loans remained almost unchanged at 6.32%.
The interest rate spread between existing deposits and loans was almost unchanged at 5.78 percentage points.
