Monetary Policy Report - January 2024
Although there is a declining inflationary trend, current levels remain elevated and exceed the 3% target. Projections suggest a notable deceleration of inflation in 2024 in an environment of moderate economic growth. However, a more substantial recovery in economic activity is anticipated for 2025, driven by increased household consumption and business investment activity. The current monetary policy interest rate is compatible with the convergence of inflation to the 3% target by mid-2025 and with the recovery of economic growth next year.