Eurozone and Cyprus business borrowing costs rise while mortgage rates stabilise

Borrowing costs for businesses across the euro area increased in June while mortgage rates remained broadly stable, according to new figures released by the European Central Bank (ECB), with the latest data reinforcing the contrast between the eurozone and Cyprus, where deposit rates continue to lag despite a recent uptick.

The ECB said its composite cost-of-borrowing indicator for new corporate loans rose by 15 basis points to 3.79 per cent in June, while the equivalent indicator for new...