Data released by the Central Bank of Cyprus on Monday showed that the

Interest rate for households fixed one-year deposits and the rate on loans to non-financial corporations for amounts up to €1 million fell in October 2017 to historic lows.

The rate for consumer loans and mortgage rates both presented an increase in the tenth month of the year.

The interest rate on deposits from households with an agreed maturity of up to one year dropped to 1.16%, the lowest level since December 2008. In September 2017 it stood at 1.24%.

The equivalent interest rate on deposits from non-financial corporations also registered a decline to 1.27%, compared with 1.34% in the previous month.

Lending Rates

The interest rate on consumer credit rose to 4.40% from 4.30% in the previous month.

Mortgage rates also recorded an increase to 2.75%, compared with 2.67% in September

The interest rate on loans to non-financial corporations for amounts up to €1 million fell to the lowest level since December 2008, recording a decrease to 3.81%, from 3.95% in September.

The interest rate on loans to non-financial corporations for amounts over €1 million decreased for the second consecutive month to 3.42%, compared with 3.64% in the ninth month of the year.