In its first session of the year, the Monetary Board of Guatemala decided to maintain the leading rate at 5% – 2024-02-23 07:09:01

monetary politics

In its first session of the year, the Monetary Board of Guatemala decided to maintain the leading rate at 5%

The members of the Monetary Board (JM) today analyzed the main indicators of the national economy and unanimously left the reference interest rate at 5%.

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During a press conference, Álvaro González Ricci and José Alfredo Blanco Valdés, president and vice president of the Bank of Guatemala (Banguat) and the JM, announced that this February 21 it was decided to maintain the Leading Interest rate of Monetary Policy, following knowing the figures of the internal and external economic situation, especially the United States economy and the performance of various macroeconomic indicators that are closely monitored.

The main one of these is inflation, which in 2023 inflation closed at 4.18% and in January of this year it was 3.82%, a sharp decrease, if one considers that, in January of last year, the general price level increased 9.69 % in interannual terms.

According to history, the movement of the reference rate began in May 2022, when inflation was already showing an upward trend, mainly associated with external factors, according to the authorities, especially those related to the constant increase in price. of oil, the international geopolitical conflict, rate increases by the United States Federal Reserve (Fed) and adjustments to maritime freight rates.

The trajectory

From May 2022 to date, the leading rate has risen from 1.75% to 5%

• From January to April 2022: 1.75%
• Mayo 2022: 2%
• June 2022: 2.25%
• August 2022: 2.75%
• September 2022: 3%
• November 2022:3.75
• January 2023: 4.25%
• February 2023: 4.50%
• March 2023: 4.75%
• April 2023: 5%
• Mayo 2023: 5%
• June 2023: 5%
• August 2023: 5%
• September 2023: 5%
• November 2023: 5%
• February 2024: 5%

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