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