IMF Recommends Central Bank Lower Monetary Policy Rate to Achieve Inflation Target

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The International Monetary Fund (IMF) recommended that the Central Bank of Costa Rica (BCCR) reduce the monetary policy rate (MPR) in order to bring inflation closer to its target range, after the indicator accumulated in April 36 consecutive months outside the target set by the monetary authority. According to the multilateral agency, although inflation is expected to return to the tolerance range of 2 to 4 per cent over the next eight quarters…