MEXICO CITY.- Many people tend to use the option of months without interest to make your payments, however, lately stores no longer advertise this benefit, have you noticed or wondered why? Next, we tell you.
In accordance with Jonathan Ruiz Torrecolumnist for The financialthe scarcity of promotions offered months without interest it is due to what has happened with the national economy in 2022and for the following reasons:
- After the Bank of Mexico (Banxico) raise its annual rate up to 10.5%offering rates below this figure can be a bad deal.
- Who request credits to buy televisions, houses, cars, etc., they will have to pay higher interest ratesso the final amount of payment will be too much and then people will prefer to stop buying.
- By having the “saved” moneyit is more difficult for banks to use it, in addition to the fact that people who have savings o investment accounts they will probably have to pay more.
- When going up the interest ratepeople will stop buying, which in turn means that businesses will lower their prices or make offers to get customers.
- The purpose of Bank of Mexico is that sales go down to be able to contain inflationsomething that is their constitutional obligation, however, that the stores take out their offers is an essential part of this.
It may interest you: Economist recommends being cautious with purchases due to the increase in interest rates
Interest rate increases by 10.5%, reports Banxico
Banxico last Thursday raised the interest rate to 10.5 %the highest level in its history, which represents the thirteenth consecutive increase before the levels of inflation highest in two decades.
The Governing Board evaluated the magnitude and diversity of the shocks that have affected inflation and its determinants, as well as the evolution of medium- and long-term expectations, and the price formation process,” said the central bank.
With information from El Financiero.