Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By CentralBankNews.info (Reporter)
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Paraguay raises rate 2nd time to meet inflation target

% of readers think this story is Fact. Add your two cents.


     Paraguay’s central bank raised its benchmark interest rate for the second consecutive month, saying it considers it appropriate to continue normalizing monetary policy to ensure it meets its inflation target in the medium term.
     Although the Central Bank of Paraguay (BCP) said the acceleration in inflation is mainly due to external factors, it added the risk of a misalignment of inflation expectations and second-round effects may become more relevant during an improving economy and a better outlook for public health.
     BCP raised its monetary policy rate by 50 basis points to 1.50 percent and has now raised it 75 points following an earlier hike in August, the central bank’s first rate hike in 5-1/2 years.
     Inflation in the land-locked South American country accelerated for the fourth month to 5.6 percent in August from 5.2 percent in July and 2.6 percent in January, above BCP’s target of 4.0 percent.
    “Inflation has picked up in recent months, above what was previously expected, which is largely explained by the impact of high international commodity prices and higher external demand for beef,” BCP’s monetary policy committee said on Sept. 21.
     Internationally, the growth prospects for Paraguay’s main trading partners has continued to improve and domestic economic activity has continued to expand from last year, especially services, manufacturing and livestock, the bank said.
     A reduction in infections, progress in rolling our COVID-19 vaccinations and greater mobility may continue to lead to better consumer expectations and aid the recovery of those parts of the service sector that was most hard hit by the pandemic, BCP added.
     Paraguay’s gross domestic product grew 0.6 percent year-on-year in the first quarter of this year, down from 1.0 percent growth in the fourth quarter of 2020.
  



Source: http://www.centralbanknews.info/2021/09/paraguay-raises-rate-2nd-time-to-meet.html



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.