The ECB’s composite cost-of-borrowing indicator for new corporate loans fell -15 bps to 4.52%, and for loans for household home purchases fell -8 bps to 3.47%.

• Interest rates on new deposits (with agreed maturity) for corporations fell -17 bps to 2.89% and for households fell -12 bps to 2.61%.
• These indicators are broadly starting to react to rate cuts by the ECB in the last few months.