Central Banking

Venezuela Chamber asks court to fix cbank rates

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A Venezuelan business chamber has filed an injunction in the supreme court demanding that it nullify a May 1999 agreement allowing banks to set interest rates on a case-by-case basis, local daily El Nacional reported on Mar 22, 2001.

The Federation For Artisans, Micro, Small and Medium Industries wants the central bank to exercise its right to set the rates, according to the report. The sector is aiming for interest rates of a maximum 10 percentage points above annual inflation, Miguel Perez, the

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