Trinidad and Tobago - Lending interest rate (%)

The latest value for Lending interest rate (%) in Trinidad and Tobago was 7.44 as of 2021. Over the past 42 years, the value for this indicator has fluctuated between 17.33 in 1998 and 6.56 in 2020.

Definition: Lending rate is the bank rate that usually meets the short- and medium-term financing needs of the private sector. This rate is normally differentiated according to creditworthiness of borrowers and objectives of financing. The terms and conditions attached to these rates differ by country, however, limiting their comparability.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1979 9.00
1980 10.00
1981 11.38
1982 11.50
1983 11.71
1984 12.75
1985 12.69
1986 12.00
1987 11.50
1988 12.58
1989 13.31
1990 12.87
1991 13.17
1992 15.33
1993 15.50
1994 15.98
1995 15.17
1996 15.79
1997 15.33
1998 17.33
1999 17.04
2000 16.50
2001 15.67
2002 12.48
2003 11.17
2004 9.31
2005 9.10
2006 10.92
2007 11.75
2008 12.44
2009 11.94
2010 9.28
2011 7.97
2012 7.71
2013 7.50
2014 7.50
2015 8.18
2016 9.00
2017 9.00
2018 9.09
2019 9.25
2020 6.56
2021 7.44

Development Relevance: Both banking and financial systems enhance growth, the main factor in poverty reduction. At low levels of economic development commercial banks tend to dominate the financial system, while at higher levels domestic stock markets tend to become more active and efficient. The size and mobility of international capital flows make it increasingly important to monitor the strength of financial systems. Robust financial systems can increase economic activity and welfare, but instability can disrupt financial activity and impose widespread costs on the economy.

Limitations and Exceptions: Countries use a variety of reporting formats, sample designs, interest compounding formulas, averaging methods, and data presentations for indices and other data series on interest rates. The IMF's Monetary and Financial Statistics Manual does not provide guidelines beyond the general recommendation that such data should reflect market prices and effective (rather than nominal) interest rates and should be representative of the financial assets and markets to be covered. For more information, please see http://www.imf.org/external/pubs/ft/mfs/manual/index.htm.

Statistical Concept and Methodology: Many interest rates coexist in an economy, reflecting competitive conditions, the terms governing loans and deposits, and differences in the position and status of creditors and debtors. In some economies interest rates are set by regulation or administrative fiat. In economies with imperfect markets, or where reported nominal rates are not indicative of effective rates, it may be difficult to obtain data on interest rates that reflect actual market transactions. Deposit and lending rates are collected by the International Monetary Fund (IMF) as representative interest rates offered by banks to resident customers. The terms and conditions attached to these rates differ by country, however, limiting their comparability. In 2009 the IMF began publishing a new presentation of monetary statistics for countries that report data in accordance with its Monetary Financial Statistical Manual 2000. The presentation for countries that report data in accordance with its International Financial Statistics (IFS) remains the same.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Interest rates