Peru’s Velarde condemns interest rate cap law
Julio Velarde, governor of the Central Reserve Bank of Peru (BCRP), has condemned a law that empowers the central bank to cap interest rates.
The Congress of Peru passed the Law for the Protection of Consumers in Financial Services, on March 12 by a vote of 85–8. The vote overrode objections made by the president, Peruvian media reported.
The law states that interest rates will be “freely designated within the limit established by the Central Reserve Bank [of Peru]”. Penalty interest rates for
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
More on Macro-prudential
