Colorful city in Guatemala

Guatemala Interest Rate

Guatemala Interest Rate

Policy Interest Rate in Guatemala

The Policy Interest Rate ended 2022 at 3.75%, up from the 1.75% end-2021 value and down from the reading of 5.00% a decade earlier. For reference, the average policy rate in Central America and Caribbean was 6.40% at end-2022. For more interest rate information, visit our dedicated page.

Guatemala Interest Rate Chart

Note: This chart displays Policy Interest Rate (%) for Guatemala from 2017 to 2016.
Source: Banco de Guatemala.

Guatemala Interest Rate Data

2018 2019 2020 2021 2022
Policy Interest Rate (%, eop) 2.75 2.75 1.75 1.75 3.75

Key policy rate left at 5.00% in November

On 29 November, the Monetary Board of the Central Bank of Guatemala (Banguat) unanimously decided to keep the key policy rate at 5.00%, marking the fifth consecutive hold.

Explaining its decision, the Bank said that the slight rise in inflation seen in October was due to temporary factors, namely distribution problems that temporarily limited the supply of some goods. These problems should subside in the medium term, and the Bank still expects inflation to remain within the 3.0–5.0% target range at the end of this year.

Consistent with previous communications, the Bank did not provide forward guidance; it merely reaffirmed its dedication to controlling inflation and maintaining stable inflation expectations. Our panelists think Banguat has reached the end of its hiking cycle and anticipate monetary easing next year. The date of the next monetary policy meeting has yet to be determined but will likely be in early 2024.

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Guatemalan interest rate projections for the next ten years from a panel of 4 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Guatemalan interest rate.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Guatemalan interest rate projections.

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