Loans more Expensive in Guatemala

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.

Tuesday, July 29, 2008

In January this year, the average interest rate for loans was 15.06%, raising to 15.73% by the end of June, according to data from the Banking Superintendence.

Journalist Jenniffer Marroquín writes in an Elperiodico.com.gt article: "On the other hand, the reference rate for monetary policy [known as 'tasa líder'], was 7.0% in January, but after several adjustements it dropped to 5.25%. The central bank will review this rate once again".



More on this topic

Leader Rate at 5.25% in Guatemala

June 2009

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%.

The reductions in the leader rate that the Junta Monetaria has been implementing since January 2009, a month in which the indicator was at 7.25%, still does not reflect the interest rates that the banks are charging.

Costa Rica: Basic Rate at 11.5%

January 2009

The half point drop effective from today, is the first for the year after two consecutive increases.

Elfinanciero.com reports: "The Basic Passive Rate is an average of the rates paid for investments by financial entities, the Ministry of Housing, and the Central Bank for terms of 150 and 210 days.

Basic rate in Costa Rica increases to 11.50%

December 2008

As of today, the basic passive rate will go up by 0.50 points to 11.50%, its highest since November 2006.

The basic passive rate is an average of the rates for savings in colones for terms of 150 days (5 months) and 210 days (7 months) and is calculated by the Central Bank.

Basic interest rate lowered to 10% in Costa Rica

October 2008

After 12 consecutive increases since May, there was a reduction of 0.25% this week; the basic rate fell to 10%.

The basic passive rate is an average of the interest rates for savings in colones for terms of 150 days (5 months) and 210 days (7 months). It is used as a reference for loans.

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