high inflation, as well as the rise in interest rates, threaten the economy of Colombians.
(Recent Banrep decision, does it imply moderation of the increases?).
And it is that with more expensive credits, the rate of household consumption tends to slow down, an effect that has already been observed since last year with the increase in prices and less dynamic purchases.
This impact is not only recorded in consumer credit rates but also in other types of credit such as mortgage loans.
In a Live with Portfolio, the professor at the Universidad de los Andes, Mark Hofstetter, an expert in monetary policy, stated that with high interest rates such as those registered now, it is best not to take any credit unless it is strictly necessary to do so.
(Winners and losers with inflation of 13.12% in 2022).
“If it is not essential to take a loan at this moment, a consumer should not consider it. What does essential mean? This is something that each household must define in their discussions, in their calculations and in their needs, but it is certainly a bad time to have credits and even more so if they are with cards in which interest rates are at very high levels “said the expert.
He added that in case of needing it, it is recommended to do the accounts very well to establish if it can be paid or not in the future, understanding that the transfer of rates has a lagging effect.
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