Paraguay continues tightening with second 125bp hike

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Paraguay’s central bank hiked interest rates 125 basis points to 4% on November 22. This is the fourth consecutive rate increase made by the monetary policy committee.

In a statement, the MPC said economic activity had continued to improve in the wake of Paraguay’s Covid-19 recovery, but also noted inflationary pressures were rising.

Annual inflation rose to 7.6% in October, according to the central bank’s latest data. The central bank currently has a 4% inflation target.

The central bank

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