Announcement of interest rate hike
Minister of Economy César Vásquez Bazán announces that the BCR will raise the passive interest rate that banks and financial companies pay to savers.
On June 14, 1989, the Minister of Economy, César Vásquez Bazán, announced that the Central Reserve Bank (BCR) would raise the passive interest rate that banks and financial companies pay to savers. This economic measure takes place in a context of economic crisis during the government of Alan Garcia Perez. The announcement is part of the economic policies implemented by the APRA government to face the country's financial situation.