*Peru’s central bank (BCRP) has lowered its benchmark interest rate by 25 basis points to 6.0%, a 20-month low. The BCRP said that the decision accounted for the fact that monthly inflation was 1.01% in March, up from 0.56% in February, adding that it expects this rise to be “transitory” due to an increase in the prices of some food and beverages, as well as a seasonal upsurge in education and transport costs. The BCRP also noted that annual inflation in March was 3.0%, towards the upper end of the 1.0-3.0% target range and down from 3.3% in February. The BCRP’s annual inflation forecast now stands at 2.56%, down from its previous estimate of 2.65% in February, with the bank stating that “year-on-year inflation is projected to continue its downward trend and gradually converge to the centre of the target range in the coming months”.
- MEXICO/ECUADOR: Mexico calls for UN to expel Ecuador
- PERU: Seventh pension withdrawal approved but wider reform still needed
- In brief: Peru lowers interest rates
- BRAZIL: Lula vetoes key article of prison furlough bill
- In brief: Brazil’s retail sales up for two consecutive months
- GUATEMALA: Congress deals setback to Arévalo
- In brief: Inflation edges up in the Dominican Republic
- In brief: Industrial production down in monthly terms in Mexico
- ARGENTINA: CGT to stage general strike
- In brief: Argentina lowers interest rates