A new advance, of close to one percentage point, records the usury rate for March, standing at 46.26 effective annual percent, as has just been certified by the Financial Supervision, thus resulting in the cost of consumer and ordinary credits. The current rate, 45.27 percent effective per year, will be in effect until Tuesday of the following week.
(Also read: New consumer loans have ‘cost’ banks $1.1 trillion more)
For its part, the Current Bank Interest for these same types of loans stands at 30.84 percent, an increase of 66 basis points. With these new limits, new loans, especially consumer loans, will become more expensive.
The new adjustment in the limit rate at which money can be lent in Colombia occurs despite the fact that in the next board of directors of the Bank of the Republic, to be held on Tuesday, February 28, no interest rate decision will be made.
However, what analysts are seeing is that the cost of money in Colombia will continue to rise because inflation is still showing signs of slowing down and, on the contrary, they anticipate that it will continue to adjust, although at a slower pace, until April of this year. present year.
(Also read: Usury rate reaches the highest peak of this century, 45.27%)
The usury rate at levels of 46.26 percent is one of the highest since 1999, a period in which the country’s economy went through one of the most acute crises in its history.
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