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Bulgarian National Bank increases interest rate by over 8 percent on a monthly basis

published on 5/1/23 2:43 PM

Photo: Ani Petrova, BNR

The Bulgarian National Bank (BNB) has raised from May 1 the main interest rate to 2.77 percent from 2.47% in April. More than once, the Bulgarian National Bank has warned that the credit expansion in the country may worsen the portfolio in the banking system.

A week ago, the BNB announced an increase in bank reserves in order to limit lending. Financiers predicted that this would be an additional stimulus for interest rate hikes, which would affect the prime interest rate. It is important for the calculation of interest on arrears.

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Radio Bulgaria Economy bank Bulgarian National Bank crediting interest rate loans

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