Central Reserve Bank of Peru
October 13, 2016
Officials at Peru’s central bank left their policy interest rate unchanged at 4.25% and released a statement that projected a drop of CPI inflation below the target range ceiling fairly soon and to 2.0% by the end of next year. Measures of expected inflation are diminishing, and real GDP is expected to grow at a 3% average annual pace in 2016-17, with momentum to the upside. Deprecation of the Peruvian sol had boosted inflation and prompted 25-basis point rate hikes in September 2015, December 2015 and each of the first two months of this year.
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