{"id":42329,"date":"2023-07-09T17:58:43","date_gmt":"2023-07-09T17:58:43","guid":{"rendered":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july"},"modified":"2023-07-09T18:43:11","modified_gmt":"2023-07-09T18:43:11","slug":"prime-rate-continues-to-rise-credit-more-expensive-in-july","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july","title":{"rendered":"Prime rate continues to rise \u2013 credit more expensive in July"},"content":{"rendered":"

Africa-Press – Mozambique. <\/strong><\/span>The Bank of Mozambique (BdM) on Friday (30-06) announced that the financial system\u2019s prime rate would increase again in July.<\/p>\n

The prime rate now stands at 24.1 %, up two months after having settled at 23.5% in April of this year, an increase of nine percentage points compared to March.<\/p>\n

In the same period last year, the prime rate was 18.60%.<\/p>\n

The creation of the prime rate was agreed in 2017 between the central bank and the Mozambican Association of Banks (AMB) to eliminate the proliferation of credit interest rates. At the time of its launch, it was 27.75%.<\/p>\n

The prime rate is the sum of the single index (17.3%) set by the Bank of Mozambique, and a cost premium (6.80%) calculated by the AMB.<\/p>\n

The prime rate increases over the last several months are for that very reason directly associated with the rise in monetary policy (MIMO) interest rates applied by the Bank of Mozambique over the last year and a half to control galloping inflation following the Russian invasion of Ukraine \u2013 in which it seems to have so far succeeded.<\/p>\n

In practice, the new setting of this indicator ensures that the price of credit will increase again in July, since this rate applies to contracted credit operations (new, renewals and renegotiations) between credit institutions and financial companies and their customers, plus the financial margin (spread) that will be added or subtracted from the prime rate through the risk analysis of each specific credit category or operation.<\/p>\n

The aim is for all credit operations to be based on a single rate, \u201cplus a margin (spread), which will be added or subtracted from the prime rate, upon risk analysis\u201d of each contract.<\/p>\n

For More News And Analysis About Mozambique<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mozambique. The Bank of Mozambique (BdM) on Friday (30-06) announced that the financial system\u2019s prime rate would increase again in July. The prime rate now stands at 24.1 %, up two months after having settled at 23.5% in April of this year, an increase of nine percentage points compared to March. In the […]<\/p>\n","protected":false},"author":84,"featured_media":42328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,281,283],"class_list":["post-42329","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-mozambique","tag-mozambique"],"yoast_head":"\nPrime rate continues to rise \u2013 credit more expensive in July - Mozambique<\/title>\n<meta name=\"description\" content=\"The Bank of Mozambique (BdM) on Friday (30-06) announced that the financial system\u2019s prime rate would increase again in ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Prime rate continues to rise \u2013 credit more expensive in July\" \/>\n<meta property=\"og:description\" content=\"The Bank of Mozambique (BdM) on Friday (30-06) announced that the financial system\u2019s prime rate would increase again in ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july\" \/>\n<meta property=\"og:site_name\" content=\"Mozambique\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-09T17:58:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-09T18:43:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688911786.407399.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"749\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Prime rate continues to rise \u2013 credit more expensive in July\",\"datePublished\":\"2023-07-09T17:58:43+00:00\",\"dateModified\":\"2023-07-09T18:43:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july\"},\"wordCount\":297,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688911786.407399.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Mozambique\",\"Mozambique\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july\",\"name\":\"Prime rate continues to rise \u2013 credit more expensive in July - Mozambique\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688911786.407399.jpg\",\"datePublished\":\"2023-07-09T17:58:43+00:00\",\"dateModified\":\"2023-07-09T18:43:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The Bank of Mozambique (BdM) on Friday (30-06) announced that the financial system\u2019s prime rate would increase again in ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688911786.407399.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688911786.407399.jpg\",\"width\":749,\"height\":500,\"caption\":\"Prime rate continues to rise \u2013 credit more expensive in July\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/mozambique\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Prime rate continues to rise \u2013 credit more expensive in July\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#website\",\"url\":\"https:\/\/www.africa-press.net\/mozambique\/\",\"name\":\"Mozambique\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/mozambique\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Prime rate continues to rise \u2013 credit more expensive in July - Mozambique","description":"The Bank of Mozambique (BdM) on Friday (30-06) announced that the financial system\u2019s prime rate would increase again in ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july","og_locale":"en_US","og_type":"article","og_title":"Prime rate continues to rise \u2013 credit more expensive in July","og_description":"The Bank of Mozambique (BdM) on Friday (30-06) announced that the financial system\u2019s prime rate would increase again in ...","og_url":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july","og_site_name":"Mozambique","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2023-07-09T17:58:43+00:00","article_modified_time":"2023-07-09T18:43:11+00:00","og_image":[{"width":749,"height":500,"url":"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688911786.407399.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Prime rate continues to rise \u2013 credit more expensive in July","datePublished":"2023-07-09T17:58:43+00:00","dateModified":"2023-07-09T18:43:11+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july"},"wordCount":297,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688911786.407399.jpg","keywords":["Africa Press","Africa Press-Mozambique","Mozambique"],"articleSection":["all news","economy"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july","url":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july","name":"Prime rate continues to rise \u2013 credit more expensive in July - Mozambique","isPartOf":{"@id":"https:\/\/www.africa-press.net\/mozambique\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688911786.407399.jpg","datePublished":"2023-07-09T17:58:43+00:00","dateModified":"2023-07-09T18:43:11+00:00","author":{"@id":"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The Bank of Mozambique (BdM) on Friday (30-06) announced that the financial system\u2019s prime rate would increase again in ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#primaryimage","url":"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688911786.407399.jpg","contentUrl":"https:\/\/static.africa-press.net\/mozambique\/sites\/64\/2023\/07\/sm_1688911786.407399.jpg","width":749,"height":500,"caption":"Prime rate continues to rise \u2013 credit more expensive in July"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/mozambique\/all-news\/prime-rate-continues-to-rise-credit-more-expensive-in-july#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/mozambique\/"},{"@type":"ListItem","position":2,"name":"Prime rate continues to rise \u2013 credit more expensive in July"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/mozambique\/#website","url":"https:\/\/www.africa-press.net\/mozambique\/","name":"Mozambique","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/mozambique\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/mozambique\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/posts\/42329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/comments?post=42329"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/posts\/42329\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/media\/42328"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/media?parent=42329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/categories?post=42329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/mozambique\/wp-json\/wp\/v2\/tags?post=42329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}