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Interest rate spread (lending rate minus deposit rate, %) is the interest rate charged by banks on loans to prime customers minus the interest rate paid by commercial or similar banks for savings deposits (and also demand, time).
What were the factors influencing the sharp increase in interest rates for T&T between 2008 and 2009?
A number of factors could have influenced this spike. Prime among them however would be the impact of the financial crisis (recession) that came full circle in 2008/2009. Banks/ Government had to pay investors higher premiums to borrow their cash.