Lending Rates Hit 4-Year Lows While Credit Card Costs Stall 📉

• Overall Lending: The Average Weighted Prime Lending Rate (AWPR) has plummeted from a crisis peak of 24.82% in January 2023 to 9.28% as of late March 2026. This marks a return to near pre-crisis levels (8.52% in Jan 2022). • The Credit Card Disconnect: Despite the sharp drop in benchmark rates, interest on credit cards remains stagnant between 26% and 28%. This sits right at the regulatory ceiling of 28% imposed by the Central Bank in 2023. • Monetary Transmission Gap: While prime corporate lending rates fell to 8.56% in 2025 before a slight uptick this year, consumer credit for households has seen limited pass-through of the easing cycle. • Sector Impact: High unsecured lending rates continue to burden the retail and household sectors, even as the broader banking & finance landscape transitions into a lower interest rate environment for 2026.