APS Bank said today that it will be leaving its base rate unchanged at 2.35%.

It was the third local bank to hold rates after the ECB last week decided to reduce its refinancing rate by 50 basis points.

"After having duly considered those factors influencing the financial and economic sectors, APS Bank has opted for leaving its Base Rate unchanged at 2.35%. Consequently, there will be no variations in interest rates on either deposits or loans and advances," APS said.

Meanwhile, Banif Bank (Malta) said yesterday it had decided to pass on part of the reduction in the ECB base rate. It said it was reducing its base rate for home loans by 30 basis points, from 2.5% to 2.2%.

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