Between July and October 2020, the number of people in El Salvador exploring mortgage options online increased by 18%, and the number of Costa Rican consumers looking to buy credit cards decreased by 60%.
CentralAmericaData's interactive platform Consumer Insights monitors in real time the changes in consumer habits in all markets in the region and in other Latin American countries, with fundamental information to understand their behavior, new trends and anticipate eventual changes in their purchase patterns.
A 100 basis point increase in the Monetary Policy Rate (MPR) decreed by the Central Bank of Honduras on 14 May, is the main reason behind this increase.
The Bank said that it will not stop injecting capital, especially capital that is used for micro, small and medium companies.
Roberto Serrano, vice president of the Central American Bank for Economic Integration (BCIE), said in an article published on LA PRENSA GRAFICA.com: “Although the international economic environment is tough and funds are not flow as much as before, we have the ability to continue capturing money as well as to continue injecting resources toward the micro, small and medium companies sector."
The Government increased to $530 million the funds that will be used to stimulate sectors such as the construction and maquila industries.
According to Reuters: "In mid December, the Government of President Manual Zelaya said that they would inject 210 million dollars into the state and private banks so that they can provide credit to those sectors, but now they have indicated that the figure will be doubled.
The president Manuel Zelaya passed two decrees that were approved in an extraordinary session by Congress.
The executive decree 174 - 2008 authorizes the Central Bank of Honduras to inject in the domestic financial system $ 265 million to continue the monetary policy to boost the production and development, and the other one is the executive decree 175-2008, to strengthen the entire national financial system, which consists of $ 105 million to provide credit for the Honduran financial system.
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