Costa Rica and Paraguay whittle away at rates

Both countries make 25bp cuts as inflation falls

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

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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