The Bulgarian National Bank raised the base interest rate by 0.35% to 2.17%. The new base interest rate is effective as of March 1. In February the base rate was at 1.82%. The interest rate increase comes against the backdrop of increasing interest levels by the European Central Bank which raised the base rate by 0.5% in February.
The base interest rate is in effect from the first day of each calendar month and equals the simple average of the values of the index LEONIA Plus for the business days of the preceding calendar month. The LEONIA Plus reference rate is a weighted average of the interest rates on all concluded unsecured overnight lending transactions in Bulgarian levs in the interbank market in Bulgaria.
The international rating agency Standard & Poor's (S&P Global Ratings) has affirmed Bulgaria's 'BBB/A-2' long-term and short-term foreign and local currency sovereign credit ratings. The rating outlook remains positive. If a stable..
In the next 3 to 5 years, Bulgaria will experience a shortage of more than 250,000 specialists with higher education. For the past 8 years, Bulgaria has missed the opportunity, which a number of EU countries have taken advantage of, to conclude an..
The Governing Council of the Bulgarian National Bank (BNB) has ordered banks in the country to apply a minimum set of 6 indicators for monitoring credit standards when granting and renegotiating loans secured by residential real estate . The aim is to..
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