Unchanged Peruvian Monetary Policy
February 8, 2013
The Central Reserve Bank of Peru’s monetary policy interest rate was left at 4.25% yet again. It’s been at that level since a 25 basis point hike in May 2011. The rate was cut during 2009 from 6.5% to 1.25%, then raised by 175 bps during 2010 and by another 125 bps in the first half of 2011. Officials are satisfied that inflation, which has fallen to 2.65% as of January, will continue to settle back toward the 2% midpoint of the 1-3% target range. GDP growth has stabilized around its long-term potential pace. Things are good. The next three policy meetings are scheduled for March 7, April 11, and May 9.
Copyright 2013, Larry Greenberg. All rights reserved. No secondary distribution without express permission.