2023-09-11 06:06:19
A better economic situation generates greater stabilization in the rate market that, although it remains at quite high levels, at a general level a slight reduction in prices is observed. The greatest incidence is recorded from loans aimed at consumption and development. According to data from the Central Bank of Paraguay (BCP), in July the weighted average of the active interest rates of the banking system for operations in national currency, with overdrafts and credit cards was 15.29%.
According to analysts from the consulting firm Mentu, this data shows a year-on-year decrease of 0.14 percentage points, with this second semester being the first period with reductions. On the passive rates side, it stood at 5.23%, 0.6 percentage points higher than the same period of the previous year.
In the analysis by credit segment, it can be seen that with the exception of overdrafts and credit cards, the average interest rates of the other segments fell compared to July 2022. The drop of 1.71 stands out. points of that corresponding to consumer loans.
Another significant drop during the same analysis period was registered in the interest rates of development-oriented loans, which fell 0.22 percentage points. “The rate situation is in line with the expected behavior of the market,” they added.
This, considering the lower pressures on the monetary policy decisions that after 11 months reduced the reference rate by 0.25 basis points.
In the medium term, the decrease in system rates could be reflected both in the volume of credit and in investment and consumption by agents.
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