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Euro area bank interest rate statistics: Απρίλιος 2018

ECB/Euro area bank interest rate statistics: April 2018/4 Ιουνίου

The composite cost-of-borrowing indicator for new loans to corporations and for new loans to households for house purchase remained broadly unchanged in April 2018, at 1.70% and 1.83%, respectively. In the same month, the euro area composite interest rate for new deposits from corporations remained broadly unchanged at 0.08%, while the one from households showed no change at 0.37%.

Bank interest rates for corporations
While the composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, remained broadly unchanged, April 2018 saw mixed developments in the cost of new borrowing by corporations both for small loans of up to €250,000 and for loans of over €1 million. For example, the interest rate on new loans of over €1 million with a floating rate and an initial rate fixation period of up to three months remained basically unchanged at 1.23%. The rate for new loans of the same size with an initial rate fixation period of over ten years decreased by 8 basis points to 1.83%. The month-on-month change was driven by the interest rate effect. In the case of new loans of up to €250,000 with a floating rate and an initial rate fixation period of up to three months, the average rate charged decreased by 6 basis points to 2.36%.

Bank interest rates for households
The composite cost-of-borrowing indicator, which combines interest rates on all loans to households for house purchase, remained basically unchanged in April 2018. The interest rate on loans for house purchase with a floating rate and an initial rate fixation period of up to one year and on housing loans with an initial rate fixation period of over ten years remained basically unchanged at 1.62% and 1.89%, respectively. In the same period, the interest rate on new loans to households for consumption with a floating rate and an initial rate fixation period of up to one year rose by 20 basis points to 4.91%. This increase was essentially due to the developments in one euro area country and it was driven by the interest rate effect which outweighed the corresponding weights. Rates agreed on new deposits from households remained basically unchanged. The interest rate on deposits with an agreed maturity of up to one year remained basically unchanged at 0.37%, while the interest rate on deposits redeemable at three months’ notice remained unchanged at 0.45% in April 2018.

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