The Bank of Italy said Tuesday that loans to the private sector decreased by 2% in May with respect to the same month in 2023.
    The central bank said that loans to households shrank by 1.1%, while loans to non-financial corporations dropped by 3.1% year-on-year.
    It added that the average APR interest rate on Italian mortgages fell to 4.04% in May from 4.09 in April, while the rate for consumer credit rose to 10.66% from 10.59%.

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