Prime Rate in Guatemala Drops 6.5%
Starting today, the prime interest rate based on monetary policies dropped from 7 to 6.5%.
Thursday, February 26, 2009
Lorena Álvarez writes in Elperiodico.com.gt: “It is the second monthly reduction in the rate approved by the monetary board. At the January meeting, a reduction of 0.25 points was approved. Experts from the central bank have conducted forecasts indicating that the inflation rate might close at 6.8 percent in 2009 and be at 4 percent by the end of 2010."
Junta Monetaria (the Monetary Board) decided to lower the leader rate of the monetary system by 0.50 basic points, dropping from 5.75% to 5.25%.
Even though the reference interest rate ("tasa líder"), has dropped 1.75 percentage points so far this year, the rate for an average loan increased 0.67 points.
The central bank has lowered its policy rate from 5% to 4%, while the passive base rate has dropped from 6.65% to 6.60%.
The Monetary Board (JM) decreased the leading interest rate by 0.25 basis points, placing the indicator at 6.25%.
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