Honduras: Monetary Policy Rate Up to 5.75%

Arguing that the medium-term forecasts indicate that the inflation trajectory will remain above the tolerance range, the BCH decided to raise the Monetary Policy Rate by 0.25%.

Friday, January 4, 2019

From the BCH press release:

January 4th, 2019. In ordinary session No.158-10-12/2018, the Open Market Operations Commission (COMA) of the Central Bank of Honduras (BCH), analyzed the recent evolution and perspectives for the main macroeconomic and financial indicators, at domestic and international levels.

The Federal Reserve of the United States of America (FED), in the meeting on December 18th and 19th, 2018 decided to increase its reference rate to the range of 2.25% - 2.50%; however, it indicated a lower rate of future increases with respect to the foreseen in previous meetings.

On the other hand, the international prices of WTI (West Texas Intermediate) oil continue to present high volatility; while coffee prices show a downward trajectory. Internally, it stands out that the economic activity, measured through the original series of the Monthly Economic Activity Index (IMAE), has shown greater dynamism since April 2018, registering a 3.7% growth last October, approaching the average observed in the last years (3.9%).

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More on this topic

Honduras: Monetary Policy Rate Falls to 5.25%

February 2020

In a context where economic activity continued to show moderate growth at the end of 2019, the Central Bank decided that as of February 10th the Monetary Policy Rate would be reduced from 5.5% to 5.25%.

From the Central Bank of Honduras press release:

February 5th, 2020. In the ordinary session No.171 held on February 4, 2020, the Open Market Operations Commission (COMA) of the Central Bank of Honduras (BCH) analyzed the current economic conditions and the most recent domestic and external perspectives. In the international environment, global growth projections for 2020 and 2021 were revised downwards by the International Monetary Fund, as a result of lower growth prospects in the United States of America (USA), the Euro Zone, basically Germany and Spain, as well as some emerging countries, including India, Mexico and Chile. The above is added to the world uncertainty for the economic effects that could be derived from the propagation of the coronavirus.

Monetary Policy Rate is set at 5.75%

November 2019

Arguing that the inflationary expectations of the economic agents are still close to the upper limit of the tolerance range with a decreasing tendency, the Central Bank of Honduras decided to keep the monetary policy rate at the same level.

From the BCH statement:

Tegucigalpa MDC, November 13, 2019. In the ordinary session No.169/11-11-2019 held on November 11, 2019, the Open Market Operations Commission (COMA) of the Central Bank of Honduras (BCH) analyzed the current economic conditions and the most recent perspectives internally and externally. In the international environment, the growing commercial and geopolitical tensions have aggravated the uncertainty, generating a deceleration in the commercial flows and lower perspectives of world economic growth for 2019 and 2020.4

Honduras: Monetary Policy Rate Remains at 5.75%

May 2019

Arguing that core inflation remains below total inflation, the BCH decided to maintain the Monetary Policy Rate at the same level.

From the BCH statement:

May 9th, 2019. In ordinary session No.164 held on May 6, 2019, the Open Market Operations Commission (COMA) of the Central Bank of Honduras (BCH) analyzed the current situation and prospects of the main macroeconomic and financial indicators, at the national and international levels.

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:

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