Browsing: consumer credit

Brazil’s central bank is pushing back against proposed caps on credit-card interest rates, warning that these limits could disrupt the financial system. At the same time, President Lula is raising alarms over the rapid rise in household debt

Interest rates on revolving credit cards in Brazil have soared to a staggering 451.5% per year, highlighting the country’s escalating credit cost crisis, Eurasia Review reports. This sharp increase underscores the growing financial strain burdening consumers across the nation