Nicaragua raises policy rate for sixth time this year
Country’s economy has recovered from long recession, but inflation remains high
Nicaragua’s central bank raised its policy rate by 50 basis points to 6.5% on November 7, the sixth time it has done so this year.
In its press statement, the Central Bank of Nicaragua did not explain why it had increased the policy rate, which it has increased by 300bp since January. The central bank follows an exchange rate targeting monetary policy. The Nicaraguan cordoba has remained largely stable against the US dollar over the past year.
The national statistics agency reported that
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