Costa Rica and Paraguay whittle away at rates
Both countries make 25bp cuts as inflation falls
Costa Rica: The Central Bank of Costa Rica (BCCR) lowered its monetary policy rate by 25 basis points on October 25, to 6.25%, as part of a move toward “a neutral position”. Since March, the BCCR’s board has cut the headline rate by 275bp.
Costa Rica’s year-on-year headline inflation fell into negative territory in June, bottoming out at -3.3% in August. In September, headline inflation was -2.2%, still well below the 3 % ±1% inflation target. Core inflation is in positive territory, at 0.5%.
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