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Bank of Cape Verde Raises Reference Interest Rates by 25 Basis Points
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The reference interest rates are rates defined by the central bank which serve as a guideline for the interest rates charged by commercial banks, in particular influencing the cost of loans and the remuneration of deposits.According to the BCV, the now decided increase aims to reduce the differential between national and euro area interest rates in order to prevent any currency outflows.The decision was taken this Wednesday, 12, by the Central B…
The Banco de Cabo Verde (BCV) decided today to increase the reference interest rates by 25 basis points, raising the principal rate and the rates of disposal and liquidity absorption to 2.75%, 3% and 2.5% respectively.
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