Paraguay raises interest rates by 50bp
Central bank makes ninth hike in a row as inflation reaches double digits
The Central Bank of Paraguay (BCP) increased its policy rate by 50 basis points, to 6.75%, on April 22.
The BCP began “a gradual normalisation” of rates last August, when it first began raising rates from a pandemic low of 0.75%. It has now ordered nine consecutive increases in the policy rate, including three 125bp hikes in the last quarter of 2021.
Like its neighbours, Paraguay has struggled with stubbornly high and increasing inflation. In its April press release, the BCP monetary policy
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