Credit card rates to rise in Honduras

The President of the Central Bank of Honduras, Edwin Araque, has warned consumers that there will be increases in interest rates on credit cards.

Monday, July 28, 2008

The Central Bank is following its tight money policy adopted last March, which involves charging higher interest rates to the nation's banks, which in turn lend to consumers and businesses.
"Users should be prodent because we are entering a period of high interest rates and possibly a reduction in available funds from monthly incomes," he said.

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