Guatemala hikes rates 25bp for second consecutive month
Board blames global commodity prices, as inflation breached target range in May
The Bank of Guatemala’s board ordered a second successive 25 basis point hike to the Lider reference rate on June 29, taking it to 2.25%.
The May increase was the first time the central bank had raised the policy rate since 2013. From June 2020 to May 2022, the central bank had maintained a 1.75% policy rate setting.
In its statement, the board blamed global commodity prices for rising inflation. According to official statistics, year-on-year headline inflation rose to 5.8% in May, up from 4.6
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