site.btaBulgarian National Bank Raises Key Interest Rate to 3.79%

As of November 1, the Bulgarian National Bank (BNB) is raising its interest rate to 3.79%. In October, the rate was 3.64%, in September it was 3.53%.

The key interest rate started to rise from the end of September last year. Then the BNB announced an interest rate increase from zero percent for September to 0.49% from October 1, 2022. By the end of 2022, the annual interest rate rose to 1.42%.

The BNB announces its key interest rate  for the relevant period on the basis of Art. 35 of the Bulgarian National Bank Act. 

The amount of the key interest rate , effective from the first day of each calendar month, is equal to the arithmetic average of the values of the LEONIA Plus index (LEONIA: LEv OverNight Interest Average Plus) for the working days of the previous calendar month.

The key interest rate is valid for the period from the first to the last day of a calendar month to which it refers and is based on the number convention "real number of days passed/360". Prime rate format is two decimal places.