CYPRUS: Deposit rates highest in Eurozone, lending rates 6th lowest

Deposit rates in Cyprus remained the highest within the Eurozone in November, with lending rates the sixth lowest among the Euro member state, according to Central Bank of Cyprus data.

The interest rate for household deposits of up to one year decreased to 2.59% compared with 2.67% in the previous month, compared to the average Eurozone rate of 1.05%.
The interest rate for non-financial companies rose to 2.53% compared with 2.49% in the previous month, the highest in the euro area, while the corresponding average of the Eurozone was 0.41%.
According to the Central Bank, all interest rates for loans to households declined.
Consumer loan interest fell to 5.30% from 5.72%, becoming the sixth lowest in the Eurozone, while the average rate of the euro area was 5.66%.
The housing loan interest rate fell to 4.19% from 4.63%, the highest in the Eurozone where the corresponding average rate was 2.43%.
The main interest rate for loans to non-financial corporations increased, while for loans exceeding €1 mln it dropped to 5.63% from 4.92%, but still the highest in the Eurozone, where the corresponding average interest rate is 1.79%.