NewsWhore
05-31-2012, 04:10 PM
The Central Bank has lowered its interest rates from 6.75% to 6.0% and the Lombard rate from 9% to 8%. The CB governor described the move as the proper way to get the economy moving. He said that the decision, which will go into effect tomorrow (1 June 2012), was based on projections that show an inflation rate lower than had been set for this year. He said that current interest rates and election expectations had slowed down the economy to a point where it was below the projections for the year. Valdez Albizu told Hoy reporter Soila Paniagua that the models suggest that there will not be any significant inflationary pressures for the rest of this year.
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