At its BOD meeting today, the Central Bank decided to keep the interest rate at 14% per annum. The regulator noted that the current tight monetary policy was necessary to sustainably curb the inflation.
The Central Bank stressed that economic activity in 2025 was higher than expected, thanks to robust aggregate demand. Inflation continued to trend downward, and the slowdown in commodity price growth was widespread.
Meanwhile, inflation risks still remain. These include high inflation in the services sector, driven by demand factors, as well as rising prices for certain food products. Under these conditions, the regulator estimates that maintaining tight monetary conditions will help keep inflation on a steady downward trajectory.
The Central Bank has not ruled out a future reduction in the key rate, subject to a further sustained slowdown in inflation and inflation expectations in the coming quarters, and taking into account changes in regulated prices.
