Tonga: Business credit interest rate
* indicates monthly or quarterly data series
The most recent value is 6.97 percent as of Q2 2024, a decline compared to the previous value of 7.01 percent. Historically, the average for Tonga from Q4 2009 to Q2 2024 is 8.34 percent. The minimum of 6.69 percent was recorded in Q3 2023, while the maximum of 12.04 percent was reached in Q4 2009.
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* indicates monthly or quarterly data series
- Measure: percent
- Source: National Reserve Bank of Tonga
| Recent values | Tonga: Business credit interest rate, percent |
|---|---|
| 2024 Q2 | 6.97 |
| 2024 Q1 | 7.01 |
| 2023 Q4 | 6.83 |
| 2023 Q3 | 6.69 |
| 2023 Q2 | 6.93 |
| 2023 Q1 | 7.12 |
| 2022 Q4 | 7.41 |
| 2022 Q3 | 7.43 |
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Definition: The business credit interest rate is the average interest rate on the loan products offered by commercial banks to non-financial corporations. The business credit is a credit specifically intended for business purposes including secured and unsecured business loans to small or large business with variable or fixed interest rate.
| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Inflation | 6.4 | 2023 | percent |
| Exchange rate regimes | 6 | 2022 | index points |
| USD exchange rate | 2.3414 | 11/2024 | Local Currency Units per USD |
| Money supply (broad money) | 0.67 | 6/2023 | billion |
| Consumer Price Index (CPI) | 132.5170 | Q2/2024 | index points |
| Inflation, monthly | 4.45 | Q2/2024 | percent |
| Inflation, annual | 5.42 | Q2/2024 | percent |
| Private sector credit | 0.32 | 6/2023 | billion |
| Deposit interest rate | 3.70 | Q2/2024 | percent |
| Business credit interest rate | 6.97 | Q2/2024 | percent |
| Mortgage credit interest rate | 8.01 | Q2/2024 | percent |