Interest rate spread expands
The interest rate spread between new deposits and loans increased to 5.94 percentage points in August, as the weighted average interest rates on new deposits and on new loans increased to 0.39% and 6.33% respectively, the Bank of Greece said last week.
The central bank, in a monthly report, said that in August 2023, the weighted average interest rate on outstanding amounts of deposits remained almost unchanged at 0.43%, while the corresponding rate on outstanding loans increased to 6.28%.
The interest rate spread between outstanding amounts of deposits and loans remained almost unchanged at 5.85 percentage points.
The weighted average interest rate on new deposits increased by four basis points to 0.39%, compared to the previous month.
In particular, the average interest rates on overnight deposits placed by households remained almost unchanged at 0.03%, while the corresponding rate on deposits by non-financial corporations increased by three basis points to 0.15%.
The average interest rate on deposits from households with an agreed maturity of up to one year increased by six basis points to 1.56%.
The corresponding rate on deposits by non-financial corporations remained almost unchanged at 2.70%.
