Interest rates unchanged

The Central Bank of Malta yesterday left the central intervention rate unchanged at 3.5 per cent saying it was too early for a full assessment to be made of the impact of the May increase in the Bank’s central intervention rate.
The decision was taken by the Governor at the end of the Monetary Policy Advisory Council meeting held yesterday morning.
The Governor said that after last month’s decision higher interest rates payable on term deposits have attracted a significant inflow of funds.
The May decision had also led to an initial widening of the interest rate differential in favour of the Maltese lira, which was a contributory factor in the small rise in the Bank’s external reserves in June.