Today, October 10 (10:07)
The statutory penalty interest may soon be lower. This is the result of Wednesday’s interest rate cut by the Monetary Policy Council. Ministry of Justice sent out to other departments letter in which he asks, if such interest should be reduced.
unofficially established reporter RMF FM Krzysztof Berend, a reduction in interest is a matter of at most two months.
Justice Minister Cezary Grabarczyk has already sent to other ministries letter in this case. Once the answer and write, if they think you need to lower the current 13 percent statutory interest, the Minister of Justice shall prepare a draft of the relevant regulation. Then he would have to approve the government and the interest will fall.
This reduction became necessary after the Wednesday Monetary Policy Council lowered the maximum interest rate on loans from 16 to 12 percent. The point is that the MPC cut the lombard rate Polish National Bank from 4 to 3 per cent. The maximum limit of interest is determined by multiplying the rate by four. Hence the sudden drop ceiling.
So suddenly we have a strange situation – statutory interest, even paid for debts to the government, have become too high. On usury. Hence the need for reductions.
(pj)
This article is excerpted from Category: Economics
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