Central Bank keeps interest rates unchanged

The Central Bank decided to keep its monetary policy rate unchanged at 6.75 per cent and at the same time resolved leave unchanged the Lombarda (loan) interest rate 9.0% annual.

Decisions with respect to the reference rate are conditioned by the behavior of the main determinants of inflation. Indeed, in November 2011, the monthly inflation rate was 0.09%, bringing inflation accumulated for the period enero-noviembre to a level of 7.6%.

A statement of the institution establishes that the annualized rate continued declining, from 8.87% in October to 8.63% in November and is expected to close the year around 8.0%. The cumulative underlying inflation registered a rate of 5.0% in November, at the time reduced in inter-annual terms to 5.3%.

suggests that the growth of the global economy will maintain a moderate pace, particularly in States u000aUnited.

In Europe, the debt crisis has deteriorated the prospect of growth, increasing the risk of a mild recession.

Outlook
the authorities expect that as that in 2011, the emerging economies lead world growth, though limited by the reduced demand for advanced countries. On the other hand, projected that the countries of Latin America grow at one rate lower in 2012, however the effect that would have the tendency to the increase in the prices of many primary goods economies more large.

At the household level, economic activity and inflation are evolving in line with the macroeconomic framework presented in the monetary program. According to the document from the Central Bank press, expected that economic growth, measured in real terms, is situated on 4.5% for 2011.

Stressed that monetary goals of net international reserves (Rhine) and the internal assets, defined in u000athe agreement with the International Monetary Fund (IMF), met with slack at the end of 2011.

Moreover, the gross international reserves reached levels exceeding US$ 4,000 billion, the highest in the history of currency of the country.

Share this article

Digg it!

del.icio.us

MySpace

Facebook

Fark

Reddit

Newsvine