Podcast in English
Text size
Bulgarian National Radio © 2024 All Rights Reserved

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

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.



Последвайте ни и в Google News Showcase, за да научите най-важното от деня!
Listen to the daily news from Bulgaria presented in "Bulgaria Today" podcast, available in Spotify.

More from category

Fitch Ratings: Sofia could be ready to adopt the euro in early 2025

International rating agency Fitch Ratings has affirmed Bulgaria's long-term foreign and local currency credit rating at BBB with a positive outlook, the Finance Ministry said. The positive outlook reflects the country's prospects for eurozone..

published on 10/19/24 1:43 PM

After data update, Bulgaria's GDP for 2023 has increased

In 2023, Bulgaria's GDP growth was 1.9% higher in real terms compared to 2022. This is 0.1 percent more than the initially announced growth of 1.8%, the National Statistical Institute has reported.  The chairman of the institute,..

published on 10/18/24 1:30 PM

Bulgaria and North Macedonia reaffirm their commitment to continue the construction of Railway Corridor No. 8

In Brussels, Bulgaria and North Macedonia reaffirmed their commitment to continue the construction of Railway Corridor No. 8 under the TEN-T Regulation, reported the European Commission’s Directorate General for Neighborhood Policy and Enlargement..

published on 10/17/24 8:40 AM