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Full ECB rate cut reflected in BOV lending rates

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Following last week’s announcement by the European Central Bank (ECB), Bank of Valletta has reduced its interest rates to all borrowing customers by 50 basis points.

This reduces the lending base rate to 2.45%, while the rate extended to the manufacturing industry now stands at 2.35%. The Bank’s mortgage base rate has also been reduced to a competitive 2.15%.

Interest rates on credit accounts are also being revised downwards. However the named savings rate has only been reduced by 35 basis points.

All revised rates will come into effect as from Monday, January the 26th, 2009.

Further details may be obtained from any BOV Branch, on www.bov.com, or from the Bank’s Customer Service Centre on 2131 2020.

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