May 18, 2020 / 9:14 AM / 10 days ago

Croatia's banks do not need short-term liquidity boost any more -cenbank

ZAGREB, May 18 (Reuters) - Croatia’s central bank said on Monday there had been no bids from commercial banks for a short-term liquidity boost, for the first time in two months.

Last week, banks borrowed 200 million kuna ($28.61 million) at a weekly short-term loan action, an operation introduced in mid-March to smooth out their liquidity needs during the COVID-19 crisis.

The interest rate at the auctions was 0.05%. The biggest demand was in early April, when commercial banks borrowed 1.52 billion kuna.

Croatia has registered 2,226 cases of COVID-19 with 95 deaths. Curbs on economic activity imposed to slow the spread of the new coronavirus had been gradually relaxed over the last three weeks. ($1 = 6.9905 kuna) (Reporting by Igor Ilic; Editing by Alex Richardson)

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