IBOR increases as credit rises

Credit in the first quarter rose 5.04 per cent compared to the end of 2021 and 15.9 per cent year-on-year. The rise in credit led to an increase in the Interbank Offered Rate (IBOR). As of early April, the IBOR had increased over 2 per cent per annum for nine consecutive weeks, doubling since the end of 2021 and 5-6 times higher year-on-year.