Interest rates in the euro area continued to decline going into the new year.

• The composite cost-of-borrowing indicator for corporate loans fell -12 bps to 4.24%.
• The composite cost-of-borrowing indicator for mortgages fell -14 bps to 3.25%.
• The rate on new deposits for firms fell -14 bps to 2.66%, and for households, fell -11 bps to 2.34%.