BCB reduced legal reserve to favour loans with 3% annual interest in the financial system

The board of directors of the Central Bank of Bolivia (BCB) reported a decrease in legal reserve rates in both national and foreign currency, to favour credits for the purchase of domestic products and the payment of services. This measure will inject approximately Bs 4 billion ($574.71 mn) by reducing the legal reserve rate and increasing the percentage of funds in custody. It will enable the population to have liquidity in national currency at low cost through the financial system at an annual interest rate of 3% and with terms of at least 11 months.

Source: El Deber