Following the decision taken on Wednesday by the European Central Bank to lower its refinancing rate by 50 basis points, Bank of Valletta announced that, with effect from tomorrow, it is lowering its Bank Base Rate to 3.75 per cent

With effect from the same date, interest rates on all deposit accounts denominated in euro will decrease by 0.50 per cent per annum. Similarly, interest rates charged on commercial loans and overdrafts, personal loans and mortgages will be revised downwards by 0.50 per cent per annum. Debit interest rates on credit card accounts will also be lowered by 0.50 per cent per annum, with effect from tomorrow.