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Caixa Announces Reduction of Interest Rate on Credit Cards

By Jay Forte, Contributing Reporter

RIO DE JANEIRO, BRAZIL - Caixa Econômica Federal, the second largest government-owned financial institution in Latin America, announced yesterday (April 11th) the reduction of interest rates on credit cards, which now ranges from 8 to 11 percent per month, depending on the type of customer card.

Before, the interest rates on the revolving credit ranged from 11.15 to 17.12 percent per month. The 'revolving credit' is the credit taken with the financial . . .

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