Peru Monetary Policy Unchanged

November 6, 2009

The Central Reserve Bank of Peru left the monetary reference rate unchanged at 1.25% for a third straight month and released a statement that saw no evidence of inflationary pressure, predicted sub-target inflation during coming months, and indicated that the key rate is unlikely to get changed in the near term.  A recovery is starting to take hold.  The key rate was at 6.5% as recently as January.  From that level, officials implemented cuts of 25 basis points each in February and March, 100 bps in April, May, June and July and a final 75 basis points in in August.

Copyright Larry Greenberg 2009.  All rights reserved.  No secondary distribution without express permission.

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