Guatemala: Leader Rate Stays at 4.75%

The Bank of Guatemala is keeping at the same level its leading policy rate, which is the main reference for interest rates in the country.

Friday, May 2, 2014

From a statement issued by the Bank of Guatemala:

The Monetary Board, at its meeting held today, decided to keep the leading monetary policy interest rate at 4.75%, based on a comprehensive analysis of the external and internal situation, having been made aware of the Balance of Inflation Risks.

The Monetary Board, in the external sphere, considers that the global economy is continuing to recover, resulting in a better performance (in particular in the United States, the Euro area and the UK) in advanced economies, but there are still some downside risks. It also took into account that although increases have been recorded during the year in the international prices of raw materials which affect inflation in the country (oil, corn and wheat), forecasts anticipate stability during the rest of the year.

The Monetary Board, at the domestic level, noted that the performance of economic activity remains consistent with the estimate of GDP growth for 2014 (between 3.3% and 3.9%), which is based on the favorable performance of some short term indicators, such as private consumption, remittances, foreign trade and bank credit to the private sector. It stressed that the overall inflation rate up to March stood at 3.25% and forecasts anticipate that inflation will remain within the target in 2014 (4.0% + / - 1 percentage point).

The Monetary Board said it will continue to closely monitor the evolution of the main economic indicators, both internal and external, that may affect the overall trend of prices, as well as forecasts and inflation expectations in order to take timely actions to help keep inflation trajectory near the medium-term target.

More on this topic

Macroeconomic Stability and the Leading Rate

June 2019

For the third time, in this year, the Banco de Guatemala confirmed that it decided to keep the monetary policy rate at 2.75%, since the short term indicators of the economic activity show a dynamism that adjusts to the expected.

From the Banco de Guatemala press release:

Guatemala: Leading Rate Maintained at 4.75%

May 2014

Taking into account stable macro economic variables at the national and the global level, the Bank of Guatemala has decided not to change the policy leader rate, the main reference for interest rates in the country.

From a statement issued by the Bank of Guatemala (BANGUAT):

Banguat Leading Rate Rises to 5%

July 2011

The Bank of Guatemala has increased the monetary policy leading interest rate from 4.75% to 5.00% taking effect from 28 July.

In its analysis, the Monetary Board took into consideration that the global economy is continuing to expand, albeit at a slower pace than expected.

Guatemala Central Bank Maintains Interest Rate at 4.75%

July 2011

The Monetary Board has unanimously decided to not to change the monetary policy’s prime lending interest rate, keeping it at 4.75%, based on a comprehensive analysis of the internal and external situation.

In making this decision the Monetary Board took into account the following:

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