LatinNews Daily - 22 January 2024

In brief: Paraguay continues to lower interest rates

*Paraguay’s central bank (BCP) has announced it is lowering its benchmark interest rate by 25 basis points to 6.50%. This follows interest rate cuts of 50 basis points in November and December. The BCP noted that macroeconomic variables in Paraguay had developed in accordance with expectations while international uncertainty continued due to the impact of geopolitical tensions on the costs of maritime transport and oil prices. The bank said it would continue to monitor local and external developments to anticipate the possible impact on inflation and take the necessary measures to ensure inflation remains below the 4% target. In December, monthly inflation was 0.3% while the annual rate stood at 3.7%.

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