Wednesday , October 20 2021

Although the Central Bank reduced the reference rate, credit became more expensive


Central Bank's Monthly Monetary Report November data on average, "The interest rate in the Leliq tenders continued its downward trend, at the end of this period, 60.75 percent year on year and 7.3 percentage points lower than the end of October"emphasizes presence.

On the contrary, the interest rates paid for demand deposits show that the averages for deposits in current term increased by 0.7 points from 33 to 44 days; and 1 point for quantities larger than one million pesos, one month in installments.

The general tendency of this behavior was the fact that the decline in demand for cars in the month worsened.and, in particular, the savings plans offered at zero prices in some direct factory operations these days.

Gaps between passive and active and market segments

One of the consequences of the rise in interest rates in the recessive economy was the reduction of the total amount of debt to the private sector by 4.6% compared to the previous month and the decline in all financing lines.

According to the survey of the Central Bank, the highest average market interest (credit) corresponding to the current account cost was 75.21% per annum; personal% 64.47; Paying 64.06% on Leliq; and discounting 63,05% annually.

At the other end, there were 28.51% pledged credit lines; and mortgages at 44.93 percent per annumFinancial institutions are lower than the customer pays for fixed-term loans.

Source link