site.btaCentral Bank Lowers Base Interest Rate to 3.79% in January

The Bulgarian National Bank (BNB) said on its website on Friday that the base interest rate (simple per annum interest) will become 3.79% from January 1, 2024.

It is the first cut in the base interest rate since October 2022, albeit by just 0.01% from December's level of 3.80%. In November, the rate also stood at 3.79%, 3.64% in October, 3.53% in September, 3.29% in August, 3.12% in July, 2.96% in June, 2.77% in May, 2.47% in April, 2.17% in March, 1.82% in February and 1.42% in January.

Till the end of September 2022, the base interest rate was 0% and from October 1, 2022, the central bank raised it to 0.49%.