site.btaCentral Bank: Base Interest Rate to Decrease to 1.80% as of Nov. 1

The Bulgarian National Bank (BNB) announced that the base interest rate will be set at 1.80% as of November 1, down by 0.01 percentage points from October’s level of 1.81%. According to BTA data, the simple annual interest rate will reach its lowest level in nearly three years. The last time the rate was lower was in January 2023, when it stood at 1.42%.

The base rate in Bulgaria remained at zero for many years before the BNB began a series of increases in late September 2022 - the first since 2016. Over the past year and a half, the simple annual rate has been on a steady downward trend.

The base interest rate in Bulgaria is primarily used to calculate annual interest on obligations.