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 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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Peter Murray
Oct 11th 2008, 10:15
Why did the BOV and all the other banks not onpass this rate reduction with immediate effect and therefore not manage to extract even more money from customers in the unwarranted interim period between Wednesday and Monday.
john gerrod
Oct 10th 2008, 09:55
Along with oter countries the interest rates drop.
What if we get a crisis like Iceland ? Oh yes, I forgot the Government will cover our deposits ?
What a laugh, perhaps they may even be trying to tell us the truth at last !!
Where will they get the money ? Perhaps from Zimbabwe ???
Sorry fellas, I for one no longer believe a single word you say.