Honduras: keeping rates unchanged as prices rise

Honduras Central Bank President Edwin Araque said he favors keeping the benchmark lending rate unchanged throughout the year on optimism steps taken to limit an expansion in credit will help slow inflation.

Sunday, April 13, 2008

The Tegucigalpa, Honduras-based Banco Central kept the benchmark rate at 7.75 percent on March 27 and asked commercial lenders to set aside more of their deposits at the bank. The higher reserve requirements are enough to help bring inflation within its official target for 2008, Araque said.
"If you want my point of view, I think the proper thing would be to keep it where it is,'' Araque said in an interview in Washington, where he attended the International Monetary Fund meeting.

More on this topic

Honduras: Monetary Policy Rate Lowered to 5.75%

March 2016

The Central Bank has reduced the benchmark rate by 50 basis points as a result of stable performance shown by the economy.

The Board of the Central Bank of Honduras reduced, from 28 March 2016, the monetary policy rate by 50 basis points, fixing it at 5.75%.

From a statement issued by the Central Bank:

Honduras: Monetary Policy Rate Drops to 6.50%

March 2015

In order to sustain the pace of local economic growth, the Central Bank has decided to reduce the monetary policy rate from 6.75% to 6.50%.

From a statement issued by Banco Central de Honduras:

The Committee on Open Market Operations (COMA) at the Central Bank of Honduras (BCH), in regular session No.117 on March 17, 2015, analyzed the recent performance and prospects for the main macroeconomic and financial indicators, both at the national and international level.

Honduras: Monetary Policy Rate Drops to 6.75%

February 2015

The Central Bank of Honduras has reduced the monetary policy rate by 0.25%, setting it at 6.75%, which has created the expectation of lower interest rates in the domestic market.

From a statement issued by Banco Central de Honduras:

The Committee on Open Market Operations (COMA) at the Central Bank of Honduras (BCH by its initials in Spanish), in regular session No.116, analyzed recent performance and prospects for the main macroeconomic and financial indicators, both nationally and internationally.

Is a Reference Rate for Dollars Useful?

May 2014

The Central Bank of Costa Rica has suggested creating a benchmark rate for dollars, similar to passive base rate applied to the local currency, the Colón.

With the proposal, the Central Bank aims to "reflect the cost faced by financial intermediaries in the country of having funds in dollars," taking into account references for interest rates where entities are funded abroad and other external factors.

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