LatinNews Daily - 09 June 2023

In brief: Peru holds interest rates for fifth consecutive month

* Peru’s central bank (BCRP) has maintained the benchmark interest rate at 7.75% for the fifth consecutive month. The BCRP noted that despite a slight reduction in the annual inflation rate, which fell from 7.97% in April to 7.89% in May, this remains above the target range of 1-3%. In a statement, the BCRP said that “a downwards trajectory in annual inflation is forecast to continue in the coming months, falling close to the target range at the end of the year, due to the moderation of international prices for food and energy [and] the reversal of supply shocks in the agricultural sector.”

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