The Greek Deal.com
INTEREST RATES
Third interest rate cut of 0.25% in 2024
The European Central Bank confirmed analysts' and markets' forecasts by cutting interest rates for the third time and for the second consecutive time by 25 basis points.
Two more interest rate cuts reasonable this year
Yannis Stournaras, a member of the ECB Governing Council, believes that two more interest rate cuts this year are appropriate, and recent data on inflation and economic expansion support the need for further ones.
Starts cutting rates
The European Central Bank reduced borrowing costs on Thursday from all-time highs, indicating that it was making headway in the fight against excessive inflation, even though the rate of increase was expected to persist until the following year.
The gap between deposit and loan rates has closed
Based on data from the Bank of Greece, the interest rate on new loans decreased marginally, narrowing the difference with the new deposit rates.
Interest rates for deposits remained stagnant
The Bank of Greece issued its latest report on February 2024 interest rates on bank deposits and loans.
Deposit and loan interest rates increased in October
In October 2023, the weighted average interest rate on new deposits increased to 0.46%, while the corresponding interest rate on new loans remained almost unchanged at 6.17%.
Vulnerable decisions
Reading Christine Lagarde's interview in Kathimerini, I noted the following
Lagarde praises Greek economy's return to pre-Covid levels
ECB's president said that Greek bonds are now eligible to participate in ECB's repurchase programs, as they have been excluded due to their "junk" status.