Clipping of news on Brazilian Culture, Law and Citizenship
01.07.2016
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Expert indicates that inflation scenario and rising unemployment, and domestic turbulence, pressed high
Consumers suffered from high interest rates in 2015
The average interest rate for the consumer ended the month of December at 7.56%, which corresponds to the accumulated annual rate of 139.78%, the highest since January 2009. The data are research of the National Association of Executives Finance, Administration and Accounting (Anefac), which conducts monthly monitoring.
According to the executive director of economic studies and research Anefac, Miguel José Ribeiro de Oliveira, the high can be attributed to high inflation in the year (which raises the risk of default), low economic growth (which promotes rising unemployment), the political and economic turmoil and expectations of increases in the benchmark interest rate, the Selic, in 2016.
"It all adds up and the fact that expectations for 2016 are also negative as to these factors, leading financial institutions to increase their interest rates to offset potential losses with the increase in delinquency," says Oliveira.
Six lines of credit aimed at individuals surveyed by Anefac, all had their high interest rates in December. These are: trade interest, revolving credit cards, overdraft, CDC-banks, auto loans, personal loans (banks) and personal loans (financial).
The overall average interest rate for individuals presented an increase of 0.13 percentage points in the month (3.46 percentage points in the year) corresponding to a rise of 1.75% in the month (2.54% in twelve months) going from 7.43% per month (136.32% per year) in November / 2015 to 7.56% per month (139.78% per year) in December.
The three lines of credit to companies surveyed were also high in the month. The overall average interest rate for corporations showed an increase of 0.05 percentage points in the month (0.94 percentage points in twelve months), corresponding to an increase of 1.18% in the month (1.46% in twelve months ), from 4.22% per month (64.22% annually) in November to 4.27% per month (65.16% per year) in December, with the highest interest rate since February / 2009.
Source: Economic Brazil
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This article was translated by an automatic translation system, and was therefore not reviewed by people.