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Athens News Agency: News in English, 00-12-27

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] Central bank - final rates cut

  • [01] Central bank - final rates cut

    27/12/2000 12:44:58

    The Bank of Greece, the country's central bank, lowered key short-term intervention rates by 1.0 percentage point on Wednesday morning as the final step in a long-term monetary alignment plan before the country's entry into the euro zone on January 1, 2001.

    The decline brings drachma rates to the same level as their euro-zone equivalents, in other words 4.75 percent for loans to financial institutions for 14 days. Interest rates for loans using government bonds as collateral were also reduced by 0.75 percent to 5.75 percent and interest rates for one-day loans were reduced to 3.75 percent.


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