LatinNews Daily - 13 September 2024

*Peru’s central bank (BCRP) has lowered its benchmark interest rate by 25 basis points to 5.25%. This followed a previous reduction of 25 basis points in August, which came after a pause in the BCRP’s rate-cutting cycle. In a statement explaining its decision, the BCRP noted that monthly inflation in August was 0.28%, bringing annual inflation to 2.0%. This is down slightly from 2.1% in July and in the centre of the BCRP’s 1-3% inflation target. Excluding food and energy prices, monthly inflation in August was just 0.01%. The bank forecast that inflation would remain within the target range for the foreseeable future, predicting that inflation would close the year at 2.44%.

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