Friday, October 11 11:43:58
While interest rates on outstanding loans to households for house purchase remained stable during August at 2.93pc, rates on new loans rose by 8 basis points to 3.4pc, according to the Central Bank today.
The corresponding interest rate reported by credit institutions resident in the euro area was 3.37pc at end-August 2013, a fall of 30 basis points since August 2012.
The weighted average interest rate on total outstanding household term deposits continued to decline, falling for the sixteenth consecutive month to 2.49pc at end-August 2013.
Weighted average interest rates on outstanding business loans decreased by 3 basis points to 3.02pc in August.
New business rates for loans less than E1 million declined by 44 basis points in the month but continued to be volatile due to the low volumes of new business.
The weighted average interest rate on outstanding NFC term deposits decreased by 9 basis points to 1.65pc at end-August 2013, the Central Bank said.
Interest rates on household term deposits stood at 0.8pc at end-August 2013, a 4 basis point increase from the previous month.
The weighted average interest rate on total outstanding household term deposits declined from 2.57pc at end-July 2013, to 2.49pc at end-August 2013, marking the sixteenth consecutive month of decline in this rate. Developments over the month were mainly driven by an 11 basis point change in deposits with an agreed maturity of up to two years. Meanwhile, longer-term interest rates on deposits with an agreed maturity over two years increased by 10 basis points in August 2013.