November 11, 2022 12:16 GMT
BBVA Do Not Rule Out Additional Adjustments
- The Bank tightened the monetary policy stance understood as the real ex-ante policy rate to a slightly more restrictive level. The policy rate increased by 25 basis points again and now stands at 2.47% in real terms (October: 2.11%).
- The Bank explained that the higher inflation observed in October is a result of the increase in the international price of food inputs and fuels and maintained their inflation forecasts.
- BBVA maintain that additional adjustments to the reference rate will be decided on a meeting-by-meeting basis and be highly dependent on the speed of descent of inflation and its expectations. BBVA do not rule out any additional adjustment to the reference rate.