LatAm rate hikes consistent with pre-Covid strategy – BIS paper
Region’s central banks did not become more hawkish during pandemic, researchers argue
The aggressive rate hikes from Latin America’s central banks in recent years reflected consistency rather than a shift to a more hawkish stance, the latest BIS working paper argues.
The authors – Rafael Guerra, Steven Kamin, John Kearns, Christian Upper and Aatman Vakil – analysed the region’s five main inflation-targeting central banks: Brazil, Chile, Colombia, Mexico and Peru.
The authors observe balanced and counter-cyclical responses to inflation and output between 2007 and 2019. However
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