LatinNews Daily - 10 March 2023

In brief: Peru holds interest rates for second consecutive month

* Peru’s central bank (BCRP) has held the benchmark interest rate at 7.75% for a second consecutive month, highlighting a slight drop in annual inflation which fell from 8.66% in January to 8.65% in February. The BCRP predicted “a downwards trajectory of annual inflation from March, with a return to the target range [1-3%] in the fourth quarter of this year, due to the moderation of international food and energy prices [and] the reversal of supply shocks in the agricultural sector.” However, the BCRP emphasised that the decision not to raise interest rates “does not necessarily imply the end of the cycle of raises,” and that “future adjustments to the benchmark rate will be conditioned on new information about inflation and its determinants”. The BCRP had raised the benchmark interest rate every month for over a year before holding it at its current rate in February.

End of preview - This article contains approximately 148 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.