BoV lowers interest rates

Bank of Valletta yesterday announced that, as of Monday, it will lower its bank base rate to 3.75 per cent in the wake of the European Central Bank decision to cut its refinancing rate by 50 basis points on Wednesday. BoV also said that, from Monday...

Bank of Valletta yesterday announced that, as of Monday, it will lower its bank base rate to 3.75 per cent in the wake of the European Central Bank decision to cut its refinancing rate by 50 basis points on Wednesday.

BoV also said that, from Monday too, interest rates on all deposit accounts denominated in euro will drop by 0.50 per cent per annum.

Similarly, interest rates charged on commercial loans and overdrafts, personal loans and mortgages will also be revised downwards by 0.50 per cent per annum.

Debit interest rates on credit card accounts will also fall by the same amount.

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