Average turnover-weighted O/N and T/N rates rose 60bp to 6.73% in August compared to July. Average rates for one-month money rose 34bp to 7.06% and rates for three-month money were up 21bp at 7.11%. Interbank rates increased in August after a central bank rate hike at the end of July.
The MNB raised the base rate which equals its key two-week depo rate by 50 basis points to 6.75% effective July 25. The base rate increased by another 50bp, effective August 29, and again by 50bp with effect on September 26 to the current 7.75%.
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