In October 2020, there was an increase in the interest rate. This is revealed by the survey on the conditions of banks.
According to BCEAO data, the average rate calculated at EU level stood at 6.69% in October 2020, after a level of 6.50% in September 2020, an increase of 19.4 basis points (bps), after a decline the previous month (-36.8 bps).
Depending on the nature of the debtor, interest rates are increasing in the assistance granted to financial customers, insurance and pension funds, as well as to companies in the productive sector.
The decline in the cost of credit noted at the level of sole proprietorships and village cooperatives and groups moderated the trend.
This study indicates that the increase in lending rates is localized at the level of cash and consumer credit, mitigated by the decline in the cost of export, housing and equipment advances.