Monetary conditions tighten in August

Retail lending noticeably declined after the termination of the extensive Subsidised Mortgage programme and the modification of the Family Mortgage terms and conditions, as well as due to the impact of restraining macroprudential measures. Corporate lending growth remained high. Attractive rates in the deposit market contributed to the propensity to save.

More details are available in the information and analytical commentary Monetary Conditions and Monetary Policy Transmission Mechanism.