LatinNews Regional Monitor: Brazil & Southern Cone - 22 August 2019

* Paraguay’s central bank (BCP) has cut its benchmark interest rate by 25 basis points to 4.25%. A statement from the BCP’s monetary policy committee (Ceoma) explained that the measure is aimed at stimulating domestic economic activity after preliminary figures show that this has fallen by 2.8% year-on-year in the first half of the year. The statement also justifies the decision by pointing out that the inflation rate remains low, currently running at 3.1%, below the BCP’s target of 4%. This is the fourth time that the benchmark interest rate has been cut this year (each time by 25 basis points) in a bid to stimulate the economy.

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