No need to change lending rate - Bank of Mount Vema left interest rate at 3.45%

September 22, 2020 – The Bank of Mount Vema left interest rate at 3.45% as expected after the Reserve Bank’s decision not to change the debit ceiling early this month.
 
Mount Vema interest rate now remains unchanged for more than 11 years.
 
Around this time of the year the Central Bank (Bank of Mount Vema) usually follows the Reserve Bank announcement on the debit ceiling and makes its own decision on the lending rates.

​Currently the Bank of Mount Vema sees no reason to make changes as the economy shows signs of steady growth, the Central Bank told VSBCnews.