Leading Rate Begins 2019 with No Changes

Banco de Guatemala decided to keep the monetary policy rate at 2.75%, arguing that several short-term indicators of the economic activity show a dynamism congruent with the projected range of economic growth.

Thursday, February 21, 2019

Other reasons to keep the leading rate without variants is that the prognosis and inflation expectations, for 2019 as well as for 2020, are located within the tolerance limit of the goal (4% +/- 1%), according to the Banco de Guatemala.

From the Banco de Guatemala press release:

February 21, 2019. The Monetary Board, in its session held on February 20, 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 world economic growth projections, for 2019 as well as for 2020, foresee a behavior similar to that observed in 2018, in an environment in which the downside risks and uncertainty have intensified. It also took into account that the projections of the median oil price anticipate a moderately growing trend, for this year as well as for the next.

The Monetary Board, internally, highlighted that several short term indicators of the economic activity (the Monthly Economic Activity Index, the banking credit to the private sector, public expense, importations and family remittances), show a dynamism congruent with the range of economic growth forecast for the present year (between 3.0% and 3.8%). It also pointed out that the prognosis and inflation expectations, for 2019 as well as for 2020, are within the tolerance limit of the goal (4.0% +/- 1 percentage point).

The Monetary Board declared that it will continue giving close follow up to the evolution of the main economic indicators, both external and internal, that can affect the tendency of the general level of prices and, therefore, of the inflation expectations.

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More on this topic

Guatemala: Leading Rate Remains at 2.75%

November 2019

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.

From the Banco de Guatemala statement:

Guatemala: Leading Rate Remains at 2.75%

September 2019

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.

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:

Leading Rate Remains at 2.75%

April 2019

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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