C-Bank Governor Cautions Against Credit Rates Cut

C-Bank Governor Cautions Against Credit Rates Cut

 Banks should be cautious when cutting further interest rates on credits, the governor of the Bulgarian National Bank, Ivan Iskrov, said during a conference in Sofia.

“Monetary policy is tightening, which will lead to a rise in interest levels worldwide and will affect banks in Bulgaria as well," Iskrov said, as quoted by the Bulgarian News Agency.
The central banks have already done much to respond to the crisis through considerably lower interest rates, and the time has come to take into account the inflationary effects, especially in the big global economies, Iskrov said, as quoted by news portal Dnevnik.bg.
The central bank governor called on the commercial banks to pay particular attention to fixed-interest rate products.
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