Rates round-up: Mexico and Colombia slow tightening
Guatemala also tightens with 25bp hike; Chile and Dominican Republic continue pauses
Mexico: The Bank of Mexico eased its 21-month cycle of rate hikes on March 30, increasing the key rate by 25 basis points to 11.25%. The central bank has ordered 15 increases since June 2021, when the policy rate was 4%. The five-member board’s decision was unanimous.
The central bank, also known as Banxico, reported a mixed outlook for inflation. On the one hand, “annual headline inflation has decreased more than expected”, and came in at 7.1% for the first two weeks of March. The headline
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More on Monetary policy decisions
Bank of Canada holds rates for sixth consecutive time
Central bank optimistic that rate cuts are ahead and inflation will gradually fall
RBNZ holds rates as economy enters recession
Policy-makers keep policy restrictive to tame inflation despite economic downturn
Philippine central bank holds rate
Central bank stays put after headline inflation rises for two consecutive months
Central Bank of Brazil cuts rate by 50bp
Copom says it expects to do the same at its next meeting in May
Bank of Korea holds rates amid property market concerns
Governor Rhee Chang-yong warns cutting rates too soon could reignite inflation
Caucasus central banks cut rates as inflation falls
Armenia, Azerbaijan and Georgia continue gradual easing, with Armenian inflation at -0.5%
Chile cuts rates for fourth consecutive meeting
Board forecasts inflation will return to 3% target in 2024
Colombian central bank begins cutting rates
Board splits over decision, as inflation remains above 10% while economy slows
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