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Bulgarian National Bank sets base interest rate at 2.17%

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..

01.03.23 11:40 |

Is Bulgaria ready to enter the Eurozone?

Bulgaria’s entry into the Eurozone has, in recent weeks, entered the public domain, and vigorously. In the statements they have been making, government officials, businessmen and experts have even been making mention of the date for the..

06.06.22 13:28 |
Bulgaria’s Premier Kiril Petkov

Premier Kiril Petkov to participate at the informal EU summit in Versailles

Bulgaria’s Premier Kiril Petkov is to participate at the informal EU summit in Versailles, the government press service announced.  Today, the European leaders are expected to discuss the situation in Ukraine, as well as concrete steps towards more..

10.03.22 05:05 |

ECB takes over supervision of 5 Bulgarian banks

As of October 1, 2020, the Bulgarian National Bank (BNB) is cooperating with the European Central Bank. The accession of Bulgaria to the Banking Union has lead to the direct supervision by ECB of 5 commercial banks registered in Bulgaria - DSK,..

01.10.20 11:46 |

Five Bulgarian commercial banks go under direct supervision of ECB

Five major Bulgarian commercial banks are to go under the direct supervision of the European Central Bank as of October 1, 2020 , BNR reports. This is part of the cooperation of the Bulgarian National Bank with the European financial institution on the..

12.09.20 10:28 |

ECB establishes compulsory intervention rates for Bulgarian lev

The European Central Bank established the compulsory intervention rates for Bulgarian lev and Croatian kuna following their inclusion in ERM II. As of 13 July 2020 the lower rate for the Bulgarian lev is set at 1.66246 per 1 euro, the upper..

13.07.20 14:59 |

Bulgaria in ERM II – what's next?

At the backdrop of protests against and in support of the government, somehow the important topic of Bulgaria's accession to the ERM II mechanism and the banking union as a step towards its future entry into the eurozone remained in the..

13.07.20 14:43 |

Fabio Panetta: Bulgaria and Croatia need to improve their institutions and economies

Bulgaria and Croatia still need to work to fix their economies and improve their institutions before joining the Eurozone, the member of the European Central Bank’s Executive Board Fabio Panetta said on Monday , Reuters reports. The reforms..

13.07.20 14:05 |
European Central Bank

Bulgaria enters Eurozone "waiting room"

Bulgaria and Croatia have joined the ERM II exchange rate mechanism and the Banking Union, and in the next 3 years the two countries will prepare for the adoption of the single European currency , the European Central Bank has announced. Thus, the euro..

10.07.20 20:06 |

ECB's Fabio Panetta: Bulgaria might join ERM-2 by the end of the year

Bulgaria and Croatia can join the Eurozone's "waiting room" by the end of this year. The opinion is of Fabio Panetta - a member of the board of the European Central Bank, expressed in an interview with the French newspaper Le Monde. According to him,..

16.06.20 18:46 |
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