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Bulgaria Central Bank Interest Rate Hits New Low

Date: 02.04.2010

The Bulgarian National Bank (BNB) has announced the lowest basic interest rate since the index was recorded for the first time in 1991.

From April 1 2010, the basic interest rate has been set at the record low of 0.17 %, which is down by 0.01 percentage points compared to the previous month.

April is the ninth month in a row, in which the basic interest rate sinks under 2% and the sixth during which it hits lower than 1 % levels.

The interest rate decrease is part of a continued trend that started at the beginning of last year from levels at 5.17 %.

The sharpest dip in the basic interest rate was recorded in February, when it decreased from 5.17 % to 3.92 %.

The Bulgarian National Bank (BNB) announced the highest basic interest rates since 2005 in December 2008, setting it at 5.77 %.

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