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📊 The BCV moves the piece: now deposits pay
The Central Bank of Venezuela changed the rules of the game for the domestic banking sector. It’s no longer just about making credit more expensive or absorbing liquidity through placements: now the agency has decided to remunerate the money customers keep in banks, including demand accounts, with a minimum rate of 10% per year. The move, according to economist César Aristimuño, director of Aristimuño Herrera & Asociados, is not a minor detail: it adds an additional annualized expense to the banking system that is around US$800 million.