Business & Economy
0 1 min read

Lending rate on bank loans goes past 12pc

block

Business Desk :
The interest rate on bank loans in Bangladesh has gone past 12 percent as the reference rate has seen an increase, central bank data showed.

The Six-months Moving Average Rate of Treasury bill (SMART), which is used to price the interest rate of loans, stood at 8.68 percent in January and it would be applied to fix the lending rates in February.

As a result, customers may see an interest rate of as high as 12.43 percent since banks can add 3.75 percentage points to the reference rate while disbursing loans. The highest interest rate was 11.89 percent in January.

block
Related

What does a Fed rate cut mean for the economy and consumers?

Reuters : The Federal Reserve cut US short-term borrowing costs on Wednesday by a bigger-than-usual half percentage point, a watershed moment that should start to ease some of the financial pressures everyday consumers have felt over the two and a half years that the central bank has battled with high inflation.The Fed, after 5.25 percentage points of increases between March 2022 and July 2023, lowered its key rate to 4.75 percent-5 percent to address rising worries about the cooling labor...

Dollar rate dips in open market as demand drops

Business Report : The value of the US dollar has decreased in Bangladesh’s kerb (open) market due to a drop in demand and an increase in supply.Currently, the dollar is being sold at Tk121-122 in the kerb market, down from Tk125 just three weeks ago, according to traders and money changers dealing in foreign currency.They attributed the drop to reduced demand for foreign travel following the political changes in the country on August 5, as well as an increased flow...

More training for women on e-GP stressed

Business Report : Speakers at a workshop on Thursday stressed the need for more training for women on e-GP for their capacity building in entrepreneurship and taking part in the government procurement system.Bangladesh Public Procurement Authority (BPPA) arranged the day-long workshop on electronic Government Procurement (e-GP) in its conference room at BPPA Bhaban on the campus of the Bangladesh Planning Commission in Dhaka.The workshop was aimed at encouraging women’s participation in public procurement process, a BAPPA press release said.The workshop...