Bank Al-Maghrib: Fall in Global Borrowing Rate to 4.53% in 2020
The average global borrowing rate stood at 4.53% for the year 2020, down 46 basis points compared to 2019, according to Bank Al-Maghrib (central bank-BAM).
This rate stood at 4.42% in the fourth quarter of 2020, against 4.34% in Q3-2020, said the BAM in its recent quarterly survey on borrowing rates.
By economic object, the rates went, from one quarter to another, from 3.99% to 4.12% for liquidity facilities and from 4.79% to 4.91% for mortgage loans. The rate for equipment loans fell from 4.50% to 4.21% and that of consumer loans from 6.46% to 6.40%.
By institutional sector, the rate applied to loans for individuals stood at 4.98% in Q4-2020 against 5.15% a quarter earlier and the rate of loans to non-financial companies at 4.28% after 4.16 %, noted the Central Bank.