{"id":165449,"date":"2020-02-25T07:30:44","date_gmt":"2020-02-25T12:30:44","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=165449"},"modified":"2020-02-25T07:14:16","modified_gmt":"2020-02-25T12:14:16","slug":"paraguay-holds-rate-virus-seen-as-new-uncertainty","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/02\/paraguay-holds-rate-virus-seen-as-new-uncertainty\/","title":{"rendered":"Paraguay holds rate, virus seen as new uncertainty"},"content":{"rendered":"<div id=\"inves-3854152115\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">February 25, 2020<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.centralbanknews.info\/\"><u>CentralBankNews.info<\/u><\/a><br \/>\nParaguay&#8217;s central bank left its monetary policy rate steady at 4.0 percent, saying the data shows the country&#8217;s economy is expected to continue along the path of recovery in the first months of the year though the outbreak of the coronavirus in China &#8220;has become a new factor of uncertainty.&#8221;<br \/>\nThe Central Bank of Paraguay (BCP), which has kept its rate steady since October 2019 after five rate cuts in the preceding months by a total of 125 basis points, added the outbreak has not only led to the temporary closure of some factories in China, lowering production, but the outlook for the local region &#8220;has become more complex&#8221; considering the challenge of renegotiating debt in Argentina.<br \/>\nOn the other hand, economic data from Brazil remains favorable while a greater depreciation of the real has been noted.<br \/>\n&#8220;In this scenario, CPM (the monetary policy committee) considers that maintaining the current accommodative profile continues to be compatible with the fulfillment of the medium term inflation target,&#8221; the central bank said.<br \/>\nParaguay&#8217;s economy was hit hard by several shocks last year, including drought and then flooding which cut agricultural output, and then weakness in Argentina and Brazil, which lowered exports.<br \/>\nIn the third quarter of 2019 Paraguay&#8217;s economy bounced back from two consecutive quarters of annual contraction in the first and second quarters of 2019, with gross domestic product expanding by 2.8 percent year-on-year.<br \/>\nInflation in Paraguay was steady at 2.8 percent in January and December and BCP expects inflation to gradually converge to its target of 4.0 percent, plus\/minus 2 percentage points, in the medium term.<\/p>\n<p><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.inf<\/a>o<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By CentralBankNews.info Paraguay&#8217;s central bank left its monetary policy rate steady at 4.0 percent, saying the data shows the country&#8217;s economy is expected to continue along the path of recovery in the first months of the year though the outbreak of the coronavirus in China &#8220;has become a new factor of uncertainty.&#8221; The Central Bank [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-165449","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=165449"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165449\/revisions"}],"predecessor-version":[{"id":165466,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/165449\/revisions\/165466"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=165449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=165449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=165449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}