Because of the adjustments made by the Central Bank to interest rates in recent days, financial institutions in Costa Rica will be forced to raise interest rates on savings in local currency.
Arguing that forecasts suggest that inflation in 2019 could be above the upper limit of the target range, on November 1st the Central Bank of Costa Rica (BCCR) decided to raise the monetary policy rate from 5% to 5.25%.
Arguing that the predictions suggest that inflation in 2019 could be above the upper limit of the target range, the Central Bank of Costa Rica decided to raise the monetary policy rate from 5% to 5.25%.
From the statement of the Central Bank of Costa Rica:
Arguing that the behavior of the main indicators of the local economy are consistent with those expected, Banco de Guatemala has decided to maintain the monetary policy rate at 2.75%.
Arguing that the behavior of the main indicators of the local economy and the current growth conditions are congruent, Banco de Guatemala has decided to keep the monetary policy rate as it is.
Banco de Guatemala reported that based on a comprehensive analysis of the external and internal economic situation, after evaluating the Inflation Risks Balance, it has decided to maintain the level of the leading interest monetary policy rate at 2.75%.
The Central Bank of the Dominican Republic has increased its monetary policy rate by 25 basis points, changing it from 5.25% to 5.50%.
The decision made by the Central Bank was made after an exhaustive analysis of the risk balance around inflation projections, the main national macroeconomic indicators, the relevant international environment, market expectations and medium-term forecasts. During the first six months of the year, cumulative inflation was 1.43%, therefore year-on-year inflation from June 2017 to June 2018 was 4.63%, above the midpoint of the target range of 4.0% ± 1.0% established in the Monetary Program.
Citing congruence between the recent figures on remittances and economic growth with those estimated for this year, the Banco de Guatemala has decided to keep the monetary policy rate unchanged.
Claiming that in the last few months inflation expectations have increased, the Central Bank has raised the monetary policy rate from 4.75% to 5%, from February 1st.
The Central Bank argues that the price of oil has maintained a bullish behavior since July 2017. This situation, with a backlog, is transferring to the local price of fuels, with a potential transmission in the coming months towards other prices.
For the sixth time in the year and arguing future inflationary pressures, the Central Bank has raised the monetary policy rate to 4.75% as of November 30.
Consulted on the matter by Nacion.com, economist Alberto Franco said that "...Before the absence of clear signs of greater inflationary pressures and a slowdown in local economic activity in recent months, this measure, in my opinion, could seek, fundamentally, to preserve the premium for investing in colones, in the face of a very likely increase in the reference rate of the Central Bank of the United States, the FED, in this next month of December."
In the context of a slowdown in bank credit to the private sector and public spending, Banco de Guatemala decided to reduce the level of the leading interest rate from 3% to 2.75%.
Entities have already registered increases in rates for loans and investments in local currency, adjusting to the increases that the Central Bank has made in the monetary policy rate and the rate for electronic deposits.
The increase has occurred in a generalized way in most of the interest rates offered by banks and financial institutions for loans and deposits in colones, days after the Central Bank raised the rate for deposits made through its electronic platform.
For the second time this month and arguing short-term inflationary pressures, the central bank has decided to raise the monetary policy rate from 2.25% to 2.50%.
This increase in the monetary policy rate follows the one announced on April 6, when the Central Bank raised it to 2.25%, before then it had remained at 1.75% since January 2016.
Arguing the existence of additional pressures on inflation, the Central Bank has raised the monetary policy rate to 2.25%, a rate which has stood at 1.75% since January 2016.
The Bank of Guatemala has kept the lead monetary policy rate at 3%, arguing that high levels of uncertainty still persist in the external economic environment.
From the report "Recent macroeconomic performance and prospects," by the Bank of Guatemala :
The Central Bank is maintaining the monetary policy rate at 3%, arguing that the performance of economic activity is consistent with the expected growth for the year-end.
Considering the international context and the recent performance of the national economy, the Central Bank has decided to reduce the monetary policy rate from 5.75% to 5.50%.
From a statement issued by the Central Bank:
The Commission on Open Market Operations (COMA) at the Central Bank of Honduras (BCH), in ordinary meeting No.128 on June 14, 2016, discussed the recent developments and prospects for the main macroeconomic and financial indicators, at the national and international level.
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