Since the beginning of 2022, the cost of borrowing for new loans in the European Union increased steadily, reaching a peak of 5.27 percent for businesses in October 2023 and of 4.02 percent for households in November 2023. Rising inflation for the European Central Bank (ECB) to increase its interest rate for the first time since 2016, which will lead to further increases in the cost of borrowing.
Composite cost of borrowing for households and firms in the European Union from January 2020 to April 2024
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ECB. (June 12, 2024). Composite cost of borrowing for households and firms in the European Union from January 2020 to April 2024 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1314175/composite-cost-of-borrowing-for-households-and-firms-eu/
ECB. "Composite cost of borrowing for households and firms in the European Union from January 2020 to April 2024." Chart. June 12, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1314175/composite-cost-of-borrowing-for-households-and-firms-eu/
ECB. (2024). Composite cost of borrowing for households and firms in the European Union from January 2020 to April 2024. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1314175/composite-cost-of-borrowing-for-households-and-firms-eu/
ECB. "Composite Cost of Borrowing for Households and Firms in The European Union from January 2020 to April 2024." Statista, Statista Inc., 12 Jun 2024, https://www.statista.com/statistics/1314175/composite-cost-of-borrowing-for-households-and-firms-eu/
ECB, Composite cost of borrowing for households and firms in the European Union from January 2020 to April 2024 Statista, https://www.statista.com/statistics/1314175/composite-cost-of-borrowing-for-households-and-firms-eu/ (last visited November 21, 2024)
Composite cost of borrowing for households and firms in the European Union from January 2020 to April 2024 [Graph], ECB, June 12, 2024. [Online]. Available: https://www.statista.com/statistics/1314175/composite-cost-of-borrowing-for-households-and-firms-eu/
