Asunción, IP Agency.- In May 2023, total credit increased 8.68% year-on-year, explained by the expansion of credit in national currency, by 5.57%, and credits in foreign currency by 6.31%, reported the Central Bank of Paraguay (BCP).
The bulletin details that total private deposits exhibited an increase of 10.98% in interannual terms, due to increases in deposits in national currency, by 8.82%, and deposits in foreign currency, by 6.55 %.
The average lending interest rate in national currency of the banking system was 15.55%, above that registered in April, and is higher than the rate of May 2022. The average passive interest rate in The national rate was 5.26%, which exceeds both the results of the previous month and the month of May of the previous year.
The average lending interest rate in foreign currency of the banks was located at 8.03%, a result lower than that of the month, and passes to the level corresponding to May 2022. For its part, the average passive interest rate in that currency stood at 3.30%, which meant an increase in monthly and interannual terms.
The Monetary Policy Committee (CPM) of the Central Bank of Paraguay (BCP), at its meeting on June 23, 2023, decided to maintain the monetary policy rate at 8.50%. Some of the points considered by the CPM indicate that, in the international scenario, the inflation rates of the United States and the Eurozone continue to slow down, but at a slower rate, and inflation in developed economies is also expected to continue above their respective goals.
At the domestic level, although the inflation rate continues to decline, there are still indicators of an inflation trend that remains at levels above the target. In addition, the convergence to the goal is still subject to eventual risks that could derive, mainly, from the international environment.
2023-07-06 16:32:21
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