Paraguay’s MPC hikes rates by 125 basis points
Country follows Chile with unexpectedly large tightening as inflation continues to rise
The Paraguayan central bank’s monetary policy committee ordered a 125 basis point increase in the policy rate, bringing it to 2.75% (October 21).
The hike is the third in a row, but much larger than August’s 25bp or September 50bp increase.
The MPC comprises the five-member board of directors and several central bank officials. The board consists of the governor and four other members.
In a statement, the MPC cited inflationary pressures stemming from rising commodities prices, increased
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