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For another month, Bulgarian National Bank lowers the key interest rate in the country

Bulgarian National Bank
Photo: Archive

The Bulgarian National Bank (BNB) has again reduced the key interest rate in the country. As of May 1, it will now be 2.24 percent. The decrease compared to April is 0.15%, when it was 2.39 percent. This is the eighth consecutive month of a decrease in the simple annual interest rate. The current interest rate level is the lowest since March 2023, when it was 2.17 percent.

The peak in the increase in the key interest rate in recent years was 3.8% at the end of 2023 and was repeated in March 2024. The key interest rate in Bulgaria, like other countries during the Covid crisis, was at zero for many years, but at the end of September 2022, a series of increases began. The prime interest rate in Bulgaria is applied primarily in calculating the annual interest on liabilities to the budget and is a guideline for commercial banks in granting and servicing loans.

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