Clipping of news on Brazilian Culture, Law and Citizenship
29/01/2013
This article was translated by an automatic translation system, and was therefore not reviewed by people.
Average rate charged to individuals amounted to 34.6% in December.
The decline registered last year, 9.2 points, was the highest in three years.
Mainly due to the performance of public sector banks, which led the process of reducing interest rates in 2012, the average rate charged by financial institutions to individuals fell by 9.2 percentage points throughout the past year, closing at 34.6% to year, the lowest value of the entire series of the Central Bank - which begins in July 1994. The figures were released by the monetary authority said Friday (25).
According to BC, the average interest rate of all bank operations with free resources (which have no specific destination, such as rural credit or real estate), which includes individuals and companies, also recorded the lowest value of the entire series of BC, in that case, begins in June 2000. In December, the average interest rate of all loans totaled 28.1% per year, versus 37.1% a year in December 2011. In this case, the decrease was 9 percentage points every year.
In the case of the average rate that banks charge to companies in their operations, according to figures from BC yet, the amount recorded in December 2012, from 20.6% a year, is also the lowest ever recorded in the entire series of monetary authority, which starts in June 2000 for this indicator.
Public banks continue reducing interest rates in 2013
In an interview with the G1, at the end of last year, the finance minister, Guido Mantega, said that bank interest rates charged by public banks in their lending operations will continue to fall in 2013 - again pressing private institutions to lower their rates.
Public institutions continue cutting interest rates, he said, despite the market's expectation of maintaining financial base rate, fixed by BC at 7.25% per annum during 2013.
"Banks will continue reducing public interest. Though interest have fallen a lot lately, we are still lagging behind compared to the rest of the world. In Brazil practicing high interest rates. Then we are able to have a benign course in relation to interest , "Mantega said at the time.
Due mainly to view the performance of public sector banks, which led the process of reducing interest rates in 2012, the average rate charged by financial institutions to individuals fell by 9.2 percentage points throughout the past year, closing at 34.6 % per year, the lowest value of the entire series of the Central Bank - which begins in July 1994. The figures were released by the monetary authority said on Friday.
Source: G1 - News
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This article was translated by an automatic translation system, and was therefore not reviewed by people.