The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

In profile - Martin Redrado

In your latest quarterly inflation report you suggested that you'd overshoot the target. Is that correct?

Martin Redrado,
President Banco Central 
de la República

We didn't exactly say that. What we said was that the deceleration in inflation that we had in the second quarter was not going to continue. We had 2% inflation in the second quarter and the reasons behind this will not continue.

Some people interpreted that as saying that inflation was going to increase. What we said is that in the first quarter inflation was 4% and there was a strong deceleration in the second quarter, but this has made it difficult for us [to hit] the 8% target we have for this year.

So what rate do you envisage this year?

I don't want to make a projection in the middle of the year. What we have to analyse is: what are the factors that lie behind the new environment that we face? Core inflation, that is, taking out seasonal products and regulated products, is projected to be 5.7%

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree