Middle East Economic Survey
VOL. XLVIII
No 26
27-June-2005
Lebanon
Lebanese Monetary Authorities To Cut Interest Rates On Local Currency Deposits
The Association of Banks in Lebanon decided at a meeting on 18 June to gradually decrease interest rates to a ceiling not exceeding 8% on one-year large deposits in Lebanese pounds from the current level of just under 9% at some banks, and up to 12% at others. Interest rates shot up after the killing of former Prime Minister Rafiq al-Hariri...
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