Economy
We must be prepared for interest rates to reach 4%, says BCP president
The CEO of Millennium BCP, Miguel Maya, has advised businesses and households to plan for interest rates to reach 4%. He noted that while he does not anticipate rates of 10% to 15%, rates between 2% and 4% must now be considered the new normal for financial planning.
Why it matters
If you have a variable-rate mortgage or are planning to borrow money, expect higher interest rates than in the past, as a major bank executive warns of a 2% to 4% range being the expected baseline for the near future.ObservadorRead original ↗
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