Guatemala’s central bank held its key interest rate at 5%, marking the fourth consecutive month without a change. That follows a total of 325 bps in rate hikes since April 2022. Policymakers noted that most economic indicators align with projected growth of 2.5% to 4.5% for this year and next. Inflation fell to 4.53% in July 2023 after peaking at 9.2% in February. The MPC mentioned its commitment to taking necessary measures to maintain inflation within the target range of 3 to 5% for the remainder of 2023 and into 2024.