RIGA - Latvia has the highest loan interest rates in the euro area, and that is because banks want to earn higher profits, Saeima Financial Sector Supervision Subcommittee Chairman Gatis Eglitis (New Conservative Party) said at the subcommittee's meeting today.
"We should not pride ourselves on Latvian banks' best quarterly profits in the euro area, we should rather be proud if we had the lowest interest rates. We have to look for solutions to make the banks lower the rates," Eglitis emphasized.
The high interest rates have an impact o...
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