Coming on the heels of Expo Belize 2011, where Grand Belizean Estates was marketing the “3 Most Dangerous Reasons Why Saving can Leave You Broke”, Central Bank releases a statement citing the following:
“as of 1 October 2011 the Central Bank will also lower the official flooring on interest rate payable on savings deposits from 3.5% to 2.5%.”
The release can be seen in its entirety at https://www.centralbank.org.bz/news/details/8 and also talks about a new interest payable system for savings deposits that should be calculated daily.
The new systems commence on October 1st.
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