Paraguay continues slower tightening as inflation rebounds
MPC orders second 25bp hike, after 450bp in increases in late 2021
The Central Bank of Paraguay (BCP) ordered a 25 basis point increase in the benchmark rate on February 22, to 5.75%. The monetary policy committee has now increased the rate at seven consecutive sessions, and by a total of 500 basis points since August.
Since the beginning of the year, the MPC has eased its programme of policy tightening. Authorities mandated three 125bp hikes in a row between October and December 2021. In the first two meetings of this year, they have settled for 25bp raises.
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