Cost for corporate lending drops considerably in January, central bank says

By Stelios Orphanides.

Interest rates for most loan categories fell in January, while in the case of corporate loans considerably, while rates for deposits rose slightly, the Central Bank of Cyprus said.

Interest rates for loans to corporations exceeding €1m, fell in January to 5.1 per cent compared to 6.61 per cent in December, the central bank said in a statement on its website. Interest rates for consumer also credit fell to 5.4 per cent from 5.61 the month before.

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