Post Bank reduces lending rate

MATHATISI SEBUSI

MASERU – The Lesotho Post Bank has reduced its lending rate from 8.25 percent to 8 percent.

This follows the Central Bank of Lesotho’s announcement of its expectation to see commercials banks lower lending rates for consumers after an earlier 3.50 percent lending rate reduction from 3.75 percent to ensure that domestic cost for borrowing and lending remain aligned with the cost of funds elsewhere in the region.

The Central Bank of Lesotho lends money only to commercial banks that in turn lends to the public.