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Bulgaria’s National Bank raises basic interest rate to highest level since 1998

Submitted on Wednesday, 1 October 2008No Comment

The basic interest rate of the Bulgarian National Bank reached its highest level since April 1998.

On Wednesday Bulgaria’s central bank raised the BIR to 5,38%, up from 5,23% in September, after it was decreased from 5,25% in August.

In January 2008 the basic interest rate was set at 4,68%. In April 1998 it was 5,41%. It has been increasing steadily since February 2005 when it stood at 1,89%.

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