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Base Interest Rate for Short-Term Loans Bids Farewell Today

Ljubljana, 1 July - Slovene banks have introduced nominal interest rates for new short-term loans and liabilities with a maturity period of one year or less as of Monday. This marks the beginning of the end of indexation, as the infamous base interest rate (TOM) - a type of annual interest rate for monetary liabilities which guarantees the preservation of their actual value - will still apply to loans and liabilities with a maturity of over one year. It is to be totally eliminated when Slovenia introduces the euro.

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