William Maloney
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William Maloney, World Bank's Chief Economist for Latin America and the Caribbean
By Javaughn Keyes
The World Bank says inflation in the region has moderated compared to the start of the year.
William Maloney, Chief Economist responsible for Latin America and the Caribbean, says the average rise in the cost of goods and services is now 3.3 per cent.
"That's down from January, and January was below that of the OECD. So we're doing relatively well in terms of macro management, and we can say that for most of the big five countries, we see a steady decline in inflation, and that has allowed interest rates to fall," he explained.
Higher inflation has been a challenge for all economies, as the higher prices mean less spending power for citizens.
Central banks have responded to the higher inflation by increasing interest rates, which has pushed up the cost of loans and other instruments.
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