According to Banguat, the increases in 2008 in the interest rates were due mainly to uncertainty in the banking sector.
Prensalibre.com reports on its website: "Adverse conditions, lack of liquidity (money) and the intention of the banks to protect themselves by lending less, caused interest rates to increase in 2008, according to explanations from the president of the Central Bank, Maria Antonieta del Cid de Bonilla.
The monetary board decided yesterday to keep the main interest rate at 7.25%, despite the request from the business sector to lower it in order to revive the economy.
How many houses are not being built and how many business projects have been stopped due to the lack of credit or the increase in interest rates? And, how many potential jobs have been lost as a result?
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