Interest rate spread has widened further
While drought and heat have affected all of the Mediterranean, Sicily has been the hardest hit. Food production could drop by up to 70%. [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.
