Paraguay continues tightening with second 125bp hike
Inflation rises far above 4% target, reaching 7.6% in October
Paraguay’s central bank hiked interest rates 125 basis points to 4% on November 22. This is the fourth consecutive rate increase made by the monetary policy committee.
In a statement, the MPC said economic activity had continued to improve in the wake of Paraguay’s Covid-19 recovery, but also noted inflationary pressures were rising.
Annual inflation rose to 7.6% in October, according to the central bank’s latest data. The central bank currently has a 4% inflation target.
The central bank
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