*Peru’s central bank (BCRP) has lowered its benchmark interest rate by 25 basis points to 5.00%. This follows previous reductions of 25 basis points both in September and 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 October was -0.09%, bringing annual inflation to 2.0%, up from 1.8% in September. Excluding food and energy prices, monthly inflation in October was 0.08%. The bank forecast that inflation would remain within the target range for the foreseeable future but might increase slightly in the rest of the year due to base effects.
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