The Central Bank of Paraguay (BCP) lowered its benchmark interest rate from 8.50 to 7.25%, for a cumulative reduction of 1.25 basis points so far this year, in response to an encouraging macroeconomic scenario and positive international economic indicators. The decision was made after a meeting of the Monetary Policy Committee (MPC) late Wednesday, it was reported in Asunción.
According to a foreign trade report issued by the Central Bank of Paraguay (BCP) on Friday in Asunción, the South American country suffered a 25.4% drop in corn exports in October compared to the same period last year.
Paraguayan exports totaled US$ 14.438 billion in the first ten months of 2023, a 23.6% improvement from the same period last year, a foreign trade report released by the Central Bank of Paraguay (BCP) showed.
According to the Central Bank of Paraguay (BCP), direct investment in the South American country reached a record US$ 725 million last year, it was reported Tuesday in Asunción.
Paraguay's Central Bank (BCP) will target a 4% inflation for the year 2023 after a slowdown has already been detected, BCP Chief Economist Miguel Mora said Wednesday. The monetary authority will also seek to guarantee price stability for local consumers despite a depreciation of the guaraní (₲) against the US dollar.
Paraguay's Central Bank lowered its inflation forecast for this year from 8.8% to 8.6%, it was reported Monday in Asunción. Meanwhile, Consumer Price Index (CPI) projections for 2023 remained unchanged from the BCP's previous outlook at 4.1%.
Paraguay's Consumer Price Index (CPI) grew 1.5% in the month of January of 2022, for a yoy inflation of 7.9%, which surpassed the 6.8% recorded in the last month of 2021. It was also significantly above the same period of the previous year.
Analysts foresee official data for the year 2021 will show an increase in poverty for the second straight year in Paraguay and will reach almost 30% due mainly to increasing inflation, analysts said Tuesday.
Paraguay's Treasury Monday forecast economic growth of 4.5% by the end of 2021, it was announced.