Promising Growth on Mintos: Investments and Interest Rates Rise
August has proven to be a positive month for Mintos, with a blog post highlighting significant growth in total investments and interest earned by investors. The platform saw a substantial increase of €99.5 million worth of Notes funded, pushing the total assets under administration to €594.1 million. Interest earned by investors has now reached €246.5 million.
The average interest rate for August stood at 12.4%, translating to an annualized average net return of 10.3%, while the year-to-date return was at 6.8%. These figures demonstrate the platform’s ability to offer attractive returns to its investors.
Turning to the United Kingdom, Mintos observed a notable deceleration in the nation’s inflation rate. In July 2023, the Consumer Price Index (CPI) rose by 6.8%, marking a decline from earlier months in the year when it reached a peak of 10.4% in February. Although the current rate remains higher than in other major economies, various factors have contributed to this moderation in inflation.
The Eurozone’s economic growth has plateaued, with a GDP growth of 0.3% in the second quarter of 2023 compared to the previous quarter. Weaker investments are evident, as seen in the cautious business expansion indicated by a mere 0.2% increase in employment during the same period.
However, the drop in energy prices presents a potentially positive development. Historically, energy costs have been a major driver of inflation, and the decrease in prices offers hope for alleviating some inflationary pressures in the future. It is worth noting, however, that the benefits of lower energy prices may manifest gradually over time.
Shifting focus to the United States, Mintos reports a trend of declining inflationary pressures in 2023. In April, the monthly inflation rate stood at 5%, the lowest since 2021. This rate continued to decline in consecutive months, reaching 3% in June. However, July saw a modest uptick to 3.2% from June’s figure, indicating a potential deceleration of inflation.
This development is particularly noteworthy as it marks the end of a year-long period of consistent inflation rise. While it is essential to remain vigilant, these signs of a decelerating inflationary environment are encouraging.
For more information and detailed insights, please visit Mintos’ website.
Follow crowdfundingmagazine on Instagram: @crowdfundingmagazine_it