LatinNews Daily - 13 January 2023

In brief: Peru’s central bank raises interest rates

* Peru’s central bank (BCRP) has raised its benchmark interest rate by 25 basis points to 7.75% in response to high inflation. In a statement explaining its decision, the BCRP noted that annual inflation increased slightly between November and December, rising from 8.45% to 8.46%. However, the BCRP forecast “a downwards trend in annual inflation from March, with a return to the target range [1-3%] in the fourth quarter of this year,” and predicted that Peru would close 2023 with inflation of 4.30% – down from 4.68% in its November forecast.

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