Slovenia Gradually Introduces Nominal Interest Rates

Ljubljana, 13 December - After the government last Thursday adopted amendments to the act on the basic interest rate, Slovene banks will gradually introduce nominal interest rates. As of 1 July 2002, banks will thus start using the nominal interest rate for loans due in less than one year, while loans payable after more than a year will still be accounted with the present basic interest rate, it was explained Thursday at a news conference organised by the Association of Slovene Banks and the Bank of Slovenia.