2023-07-02 10:30:28
In line with a restrictive monetary policy, interest rates for loans for the month of July experienced an increase. They affirm that in the case of cards, the limits reached are the highest registered. The Central Bank of Paraguay (BCP) published the limits or ceilings that will apply during the month of July of this year in regard to interest rates, both for credit cards and loans from banks, financial institutions and cooperatives. , in local or foreign currency.
In the case of plastics, loans in guaraníes will have a maximum reference of 18.73%, higher than that reported in the previous month, which had been located at a level of 18.07%. On the other hand, analysts from the consulting firm Mentu indicated that the average for the seventh month of the year is 0.14 percentage points above the limit of 18.59% achieved in January.
Regarding credits in foreign currency, the ceiling was located at 10.13% for the month of July, higher than 9.99% for the month of June, which even already represented approximately double compared to a year ago. In this sense, analysts mention that in both currencies, the ceilings are the highest in the last five years.
LIMIT WOULD BE 30.52%
Regarding system loans, the current limit for July in national currency would be 30.52%, higher than the 30.27% reported in the previous month. It should be remembered that a credit rate greater than the limit established by the BCP is considered usury.
They added that the sustained increases in both limit rates reflect the effects of the restrictive monetary policy on the system’s lending rates. The previous month, the parent bank decided to once again keep the rate at 8.50 basis points, the level it has had since September of the previous year.
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