CENTRAL BANK TO CUT INTEREST RATES 4.3% ?

CENTRAL BANK TO CUT INTEREST RATES 4.3%

Fixed income seniors in Belize living off their savings, are in for terrible financial hardship. The weekend news media announced that the Prime Minister has said that CENTRAL BANK will cut interest rates for bank money stored at Central Bank from 7% for SOCIAL SECURITY FUNDS, to 2.7%. An interest rate cut that is 4.3%.

Speculative projections indicate that Bank CD´s will be cut to around 4.7% and that loan interest rates will fall for the first time in history below 10%. The MUSLIM usury limit. This will make Credit Union loan money very expensive and uncompetitive with commercial banks.

The question is WHEN?