The Central Bank of Paraguay has reduced its inflation target from 5% to 4.5% – a level it will aim for in both 2015 and 2016, before reassessing its position again.
Central bank president Carlos Fernández Valdovinos announced the move yesterday in a wide-ranging press conference on the Paraguayan economy. He said the central bank was able to aim for a lower target on the basis of the "measures adopted to consolidate the inflation targeting" since 2011.
The board of directors felt the target – w
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