*Paraguay’s central bank (BCP) has announced it is lowering its benchmark interest rate by 25 basis points to 6%, continuing its consecutive decline since November. According to a BCP statement, the decision, which was taken unanimously by the BCP’s monetary policy committee (CPM), stemmed from various factors. These include a slowdown in annual inflation which was running at 2.9% in February, down from 3.4% in January, as well as international factors such as the strength of the US economy and international prices of oil and its derivatives. The BCP said it would continue monitoring domestic and international developments to “guarantee compliance” with the 4% inflation target.
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