Interest rates won't come down to 2 or 3 percent- Saud Minam

Interest rates won't come down to 2 or 3 percent- Saud Minam

By Shanil Singh
Sunday 19/07/2020
ANZ Country Head and Association of Banks Board member Saud Minam

ANZ Country Head and Association of Banks Board member Saud Minam says expecting interest rates to be reduced to as low as 2 or 3 percent is not possible.

Minam highlighted this when asked what is his prediction for interest rates in Fiji in the next three years at the Fiji Commerce and Employers Federation Symposium.

He says there may be a reduction in the near future but going forward the interest rates are likely to hover around the range where it is right now.

He says they will continue to look into it in terms of the cost of funds and as and when the cost of funds come down.

Minam says we have to understand that not only customer risk but portfolio risk and country risk is associated with it.

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