Banks’ lending rates lowered 0.1 percentage points;

The Riksbank’s quarterly survey of interest rates set by banks and housing intermediaries at end September 1999 shows that in the third quarter the banks lowered lending rates by an average of 0.1 percentage points, while the average level of deposit rates was unchanged. In this period the Riksbank’s repo rate was unchanged or 2.9 per cent, and the 6-month T-bill rate rose 0.35 percentage points.

The average level of bank lending rates was 5.2 per cent, while the level of deposit rates was 1.3 per cent, giving a spread of 3.9 percentage points.

The house mortgage institutions raised their variable lending rates in Q3 by an average of 0.1 percentage points to 3.9 per cent. At 6.2 per cent, the average rate for their total loan stock was unchanged from Q2.

The survey data are accessible on the Riksbank’s web-site www.riksbank.se under Statistics and Publications. They can also be ordered from Information Riksbank by e-mail info@riksbank.se fax+46 8 787 05 26 or telephone +46 8 787 01 00. The data are also included in Financial Market Statistics no. 10, October 1999, published this week; copies can be collected at the Riksbank entrances on 11 Brunkebergstorg and 7 Malmskillnadsgatan.

For further information please contact the Financial Statistics Department:
Enar Olofsson: phone: +46 8 787 01 38; e-mail: enar.olofsson@riksbank.se
Kristina Löfstrand: phone: +46 8 787 05 62; e-mail: kristina.lofstrand@riksbank.se