Benchmark Rate in Panama
Panama - Benchmark RateThe economy grew at a solid albeit slightly softer rate in Q1 compared to Q4 2021, according to monthly economic activity data. This was chiefly driven by a tougher base effect and rising energy and food prices, which likely capped private consumption growth. That said, output in Q1 was stimulated by healthy copper exports and a recovery of Panama Canal activity. Turning to Q2, available data indicates that growth should be resilient despite rising global demand constraints. Construction output and new vehicle sales in April increased year on year. Meanwhile, the current high price of copper and the expected rebound in tourist arrivals should be further supporting growth. Furthermore, the dollarized economy as well as the recent price cap on fuel should alleviate the rise in inflation and thus mitigate the hit to households’ purchasing power.
Panama - Benchmark Rate Data
|Benchmark Interest Rate (%)||7.49||7.61||-||-||-|
5 years of economic forecasts for more than 30 economic indicators.
Panama Benchmark Rate Chart
Source: Superintendency of Banks of Panama.
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November 21, 2022
Economic activity rose 12.2% in year-on-year terms in September, which was a deterioration from August's 12.9% increase.
November 15, 2022
Inflation came in at 1.7% in October, which was down from September’s 1.9%.
October 19, 2022
Economic activity rose 12.8% year on year in August (July: +3.6% yoy).
September 19, 2022
Economic activity expanded 3.4% year on year in July (June: +8.4% yoy).
September 17, 2022
According to a preliminary reading, GDP growth softened to 9.8% year on year in the second quarter, from 13.6% in the first quarter.