Banks raised lending and deposit rates by 0.3 percentage points in the fourth quarter 1999
The Riksbank’s quarterly survey of interest rates set by banks and mortgage institutions as per 31 December 1999 shows that the banks' interest rate developments were more or less in line with the 0.35 per cent repo rate increase by the Riksbank in the fourth quarter. The banks raised both lending and deposit rates by an average of 0.3 percentage points. The average level was 5.5 per cent for lending rates and 1.6 per cent for deposit rates, giving a spread of 3.9 percentage points, unchanged from the third quarter. The 6-month T-bill rose 0.34 percentage points during the fourth quarter.
The mortgage institutions raised their variable lending rates by an average of 0.5 percentage points to 4.4 per cent. The average rate for their total loan stock moved down 0.1 percentage points to 6.1 per cent.
The survey data are available on the Riksbank's web site (www.riksbank.se) under the headings 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. 1, January 2000, published in week 9; 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, tel: +46 8 787 01 38; e-mail: enar.olofsson@riksbank.se
Kristina Löfstrand, tel: +46 8 787 05 62; e-mail: kristina.lofstrand@riksbank.se
