Annual Credit Growth Rate
Well, according to BCR annual credit growth rate reached 21%, so proceeded to raise the average rate of lace at 0.25% (in dollars and soles). As we know, with this measure seeking expensive credit, and reducing the money supply available, akin of contracting domestic demand. Not to do the emergence of inflation, would be feeding since the supply in the medium term is not in ability to meet excess demand. Let us not forget that VAT has been reduced (1) 19% to 18%, the oil is on the rise by the crisis to unresolved of Libya, and to complicate the picture, we added the rise in international prices of commodities like corn, soybeans and wheat (which are not self-sufficient), make that emerging economies such as ours, can enter in inflationary processeson one side by an imported phenomenon and the inner side, a insatiable for purchasing internal demand, with a domestic supply limitations that have to meet that demand, for which reason this measure coupled with previous hikes in the rates of lace, seeking halt this demand and limit the emergence of inflation for those reasons. BCR, can do very little with imported inflationary effect. Therefore, to limit spending to the strictly necessary and save it is vital..