Monday, December 27, 2010

Banks in Belize awash in local currency.


At least one bank is not selling any more C.D.´s, so one does not have to worry about dropping CD rates. Only patrons holding CD´s can keep them at reduced rates. On the other hand, Savings Accounts will pay 4% this coming year. Don´t remember what they paid before.
A Bank Customer Service person told me the banks are awash in money. ( Belize money ) They are too liquid.

I could guess this means PM Barrow´s various strategms to offer cheaper loans to citizens is having an effect on Bank rates. Next time to Melchor will have to check the dollar accounts CD rates over there. See how they have changed. It could also mean nobody local is investing in Belize anymore?

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