Bancredito bank in Costa Rica lowers interest rates
Starting February 15, a 2 percentage point decrease in the rates will come into effect for home and small and medium business loans with balances lower than $69,246."
Thursday, February 5, 2009
Nacion.com says that "Said measure will last for 24 months, although it will be revised annually.
A bill proposes to limit interests on all forms of credit, prohibiting setting interest rates unilaterally.
Effective February 15 the bank will reduce its interest rate for housing loans lower than $89.000 (¢50 million) by 2 percentage points.
The Bank of Costa Rica (BCR) lowered interest rates for loans for housing and small and medium businesses by two percentage points.
Financial companies are trying to protect their capital against a possible further rise in interest rates.
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