Costa Rica cuts rates, bucking Latin American trend

Argentina resumes monetary tightening, while Paraguay continues to hold

Central Bank of Costa Rica
The Central Bank of Costa Rica
Haakon S Krohn/Wikimedia Commons (

Costa Rica’s central bank became the first inflation-targeting Latin American central bank to cut interest rates this year. But Argentina resumed rate increases after year-on-year inflation rose above 100%, while Paraguay’s central bank continued to hold rates.

Costa Rica: The Central Bank of Costa Rica’s board, which sets the monetary policy rate, cut that rate by half a percentage point to 8.5% on March 15. Between December 2021 and October 2022, the central bank raised its policy rate from 0

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