Paraguay orders third 125bp hike

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The Central Bank of Paraguay (BCP) has finished the year with a 125 basis point hike in the policy rate, raising it to 5.25%.

This is the third 125bp increase in a row. The interest rate has not been this high since January 2019, when it was 5.3%.

In its press release, the monetary policy committee said “high commodity prices and greater external demand for beef has carried over into local food and fuel prices, accelerating inflation since the middle of the year”.

In November, the BCP

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