Consumer interest rates plummet: Central Bank

Santo Domingo.- Interest rates have posted their lowest historical level this month, amid a drop in demand due to the pandemic that has led the economic authorities to apply measures to jumpstart an economy that is practically paralyzed.

According to the Dominican Central Bank, lending rates for personal or consumer loans (the one charged by banks for these types of loans) averaged 11.7% to April 9, a drop of seven percentage points from the 18.7% recorded on average last January.

The behavior is almost generalized for all types of loans offered by the banks, except mortgage loans, which have remained unchanged, despite the monetary measures applied by the Central Bank to reduce financing and avert an economic collapse.

In January interest for home financing averaged 11.13%, while by the end of last week they had barely declined to 11%.

Comments are closed.