Cape Verde’s interest rates fall 1 pct point in 2005

1 March 2006

Praia, Cape Verde, 01 March – Interest rates in Cape Verde fell by almost 1 percentage point in 2005, with banks registering increases in deposits and loans granted, figures from the Bank of Cape Verde showed Tuesday.

According to the central bank’s figures, in November last year Cape Verde’s interest rates, for credit operations, varied between 11.91 percent (90 days) and 12.15 percent (over 10 years), in every case falling by around 1 percentage point against the figure recorded in January.

For interest rates on deposits the fall was smaller, varying between 3.37 percent and 5.06 percent in November 2005, the bank said.

In the money market, the central bank’s rates were kept at 8.50 percent, while for provision of liquidity they fell one percentage point to 7.50 percent. (macauhub)