Costa Rican board says it will slow rate rises

Central bank orders 50bp increase, but says cycle will continue at “lesser rhythm”

The Central Bank of Costa Rica
The Central Bank of Costa Rica
Rachael King

Costa Rica’s central bank board raised its policy rate for the eighth consecutive time, hinting it would continue to raise rates but by lesser amounts.

The board increased the rate by 50 basis points to 9%, saying in its statement that it believed headline inflation had peaked in August. It said ensuring inflation returned to target “will require continuing the process of raising the monetary policy rate, though at a lesser rhythm”.

The board said that headline inflation fell to 10.4% in

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