In its "Monthly note on the economic situation in the countries of the UEMOA at the end of July 2019", the Bceao returned to the lending interest rates. It notes that the analysis of banking conditions at the end of July 2019 shows a drop of 8.1 basis points (bps) in the average lending rate, excluding taxes and charges, which stood at 6.73% after 6.81 % in June 2019. “Depending on the nature of the debtor, interest rates fell to the level of loans granted to individual companies (-79.9 bps, to 6.92%), to the State and similar bodies (- 76.2 bps, at 6.00%), bank staff (-72.2 bps, at 1.53%), cooperatives and village groups (-69.4 bps, at 9.05%), insurance and pension funds (-23.6 bps, to 7.53%) and to private companies in the productive sector (-6.3 bps, to 6.38%). On the other hand, the cost of credit increased for advances to individuals (+93.0 bp, at 8.07%) and to State companies and public industrial and commercial establishments (EPIC) (+17.7 bp , at 5.75%)”, adds the Bceao. Lending rates were stable for financial customers, at 7.26%. The analysis according to the object of the credit indicates a fall in the lending rates relating to export credits (-52.9 bps, to 6.27%), cash (-24.8 bps, to 6.16 %) and equipment (-9.7 bps, to 7.58%). The increase recorded in consumer loans (+125.9 bps, at 8.46%) and housing loans (+102.0 bps, at 7.62%) reduced the downward profile of lending rates during the the period under review. According to the institution, the rate cuts were observed in three countries of the Union, namely: Burkina (-34.6 bps, to 7.10%), Guinea-Bissau (-19.6 bps, to 9 .14%) and Ivory Coast (-18.0 bps, to 6.44%). The increases recorded in Togo (+45.4 bps, at 8.14%) and Senegal (+2.6 bps, at 5.92%) tempered the downward profile of lending rates of banks in the Union. As for the average interest rate on customer deposits, it remained stable at 5.44%. The decline in deposit costs located in Guinea-Bissau (-247.1 bps, at 3.25%), in Côte d'Ivoire (-30.1 bps, at 4.81%) and in Burkina (15.1 bps, at 5.86%) was offset by the increases noted in Senegal (+58.9 bps, at 5.75%) and Togo (+21.9 bps, at 5.68%). Deposit rates are stable in Benin (5.30%), Mali (5.25%) and Niger (5.88%).