Paraguay’s central bank raises rates to 1.5%
MPC says monetary policy normalisation should continue in wake of rising inflation
The Central Bank of Paraguay’s monetary policy committee voted unanimously to raise interest rates 50 basis points to 1.5% on September 21.
In its statement, the MPC noted Paraguay’s economy was recovering following a decline in Covid-19 cases and a successful vaccine rollout.
Economic activity has continued to gain momentum, thanks to growth in the manufacturing and agricultural sectors, the central bank said.
However, the MPC also noted inflation had picked up over the past few months and
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