Bulgaria’s base interest rate falls below 2%

The base interest rate in Bulgaria is decreasing to 1.91% as of July 1, announced the Bulgarian National Bank. The base interest rate is dropping by 0.16% compared to the previous month, when it stood at 2.07%. Thus, the base interest rate will be below the 2% threshold for the first time in nearly two and a half years. The last time it was below 2% was in February 2023, when it was at 1.82%, reported BTA.

The highest base interest rate level in recent years was 3.8%, reached at the end of 2023 and again in March 2024. For many years, the base interest rate in the country remained 0%, but a series of hikes began in late September 2022. Prior to that, the base interest rate had not been increased since 2016.