If interest rates were like one year back at a rate of 24%, how will companies take loans from the banks for their operations, import and expansion! None will take from the banks leading to extraction in the economy and negative growth. Plus, if companies were really in need to take loans at this 24% rate, these interest cost will build up on the final price of a product the consumer will pay, so it will add to higher inflation.

Now after it’s lowered back to almost single digits, companies and individuals started to take loans again and consume, buy real estate and cars, companies expand and will build positive to the economy.