NewsMontenegro's interest rates see minor increases in August, Central Bank reports

Montenegro’s interest rates see minor increases in August, Central Bank reports

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In August, the average weighted effective interest rate on all approved loans rose by 0.01 percentage points to 6.61%, according to data from the Central Bank (CBCG).

“The average weighted nominal interest rate decreased by 0.01 percentage points on a monthly basis, standing at 6.1%,” the CBCG Bulletin states.

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Interest rates on newly approved loans increased in August, with the effective rate rising by 0.64 percentage points to 6.73%, and the nominal rate by 0.45 percentage points to 6.08%.

Microcredit financial institutions (MFIs) also saw increases in interest rates for total approved loans, with the effective rate up by 0.05 percentage points to 21.73%, and the nominal rate up by 0.06 percentage points to 19.39%.

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The average weighted effective interest rate for MFIs on newly approved loans fell by 0.34 percentage points to 22.84% in August, while the nominal rate decreased by 0.26 percentage points to 20.46%.

The average weighted effective interest rate on deposits in August was lower by 0.01 percentage points, at 0.25%.

The difference between active and passive interest rates in August was 6.36 percentage points, an increase compared to July.

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