Paraguay makes 12th consecutive rate hike

The Central Bank of Paraguay

The Central Bank of Paraguay raised its benchmark rate by 25 basis points to 8% at its monetary policy meeting on July 22.

The move is the twelfth consecutive increase, but marks a moderate softening of policy after four 50bp hikes between March and June. In total, the central bank has raised the monetary policy rate by 725bp since last August, from a pandemic low of 0.75%. In its press statement, the central bank’s monetary policy committee said that the headline inflation rate stood at 11.5%

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