*Peru’s central bank (BCRP) has lowered its benchmark interest rate by 25 basis points to 4.75%. The reduction, which follows rate cuts of the same size in November, September, and August, comes as monthly inflation in December stood at 0.11%, bringing the annual inflation rate to 2.0% – in the centre of the BCRP’s 1-3% target range. The bank expects annual inflation to stand slightly below 2.5% at the end of 2025. The BCRP also noted that “most indicators for [economic] activity forecasts deteriorated, but remain on a positive trajectory as in recent months”.
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