Arguing that the economic activity and the execution of public expenditure report a behavior attached to the growth forecasts for 2019, the Central Bank decided to maintain again at 2.75% the level of the leading interest rate of the monetary policy.
Friday, November 29, 2019
From the Banco de Guatemala statement:
Guatemala, November 28, 2019. The Monetary Board, in its session celebrated on November 27, based on the integral analysis of the external and internal economic situation, after evaluating the Inflation Risks Balance, decided to keep the level of the leading interest rate of the monetary policy at 2.75%.
The Monetary Board, in the external environment, considered that the economic growth projections worldwide, although they have moderated, are positive for 2019 as well as for 2020, in a context where they continue to deprive risks to the decline. It also took into account that the international price of oil remains at levels higher than those registered at the end of the previous year and that the forecasts show an upward trend for 2020.
The Monetary Board, internally, declared that the main short-term indicators of the economic activity as the Monthly Economic Activity Index (IMAE), the Economic Activity Trust Index (ICAE), family remittances and the execution of public expense show a dynamism congruent with the annual economic growth forecast for the present year (between 3.0% and 3.8%).
Additionally, the inflation forecasts for 2019 and 2020 are within the tolerance margin of the goal established by the Monetary Board (4.0% +/- 1 percentage point) and the expectations for both years remain anchored. The Monetary Board reaffirms its commitment to continue giving close follow up to the evolution of the main economic indicators, external as well as internal, that can affect the general level of prices and, therefore, the inflation expectations.
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Arguing that the main economic indicators show a stable behavior, the Central Bank decided at the beginning of the year to maintain the level of the leading interest rate of the monetary policy at 2.75%.
From the Bank of Guatemala's statement:
February 20th, 2020. The Monetary Board, in its session celebrated on February 19, based on the integral analysis of the external and internal economic situation, after evaluating the Inflation Risks Balance, decided to keep the level of the leading interest rate of the monetary policy at 2.75%.
Arguing that the economic activity reports a behavior attached to the forecasts of growth for 2019, the Central Bank decided to maintain in 2.75% the level of the leading interest rate of monetary policy.
The inflation forecasts for 2019 and 2020 are located within the tolerance margin of the goal established by the Monetary Board, was another of the arguments of the monetary authority to keep the reference rate without variations.
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.
For the Banco de Guatemala the behavior of several short term indicators follows the prognosis, the institution decided to keep the monetary policy rate without changes.
From the Banco de Guatemala press release:
Guatemala, April 25, 2019. The Monetary Board, in its session held on April 24, based on the integral analysis of the external and internal economic situation, after evaluating the Inflation Risks Balance, decided to keep the level of the leading interest rate of the monetary policy at 2.75%.
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