Peru
Peruvian Monetary Policy Paused
October 8, 2010
To the surprise of almost all the pundits, the Central Reserve Bank of Peru left its monetary policy reference rate at 3.0% instead of implementing a 25-50 basis point further increase. Five consecutive increases had been implemented at the five previous monthly meetings, totaling 175 basis points and reversing exactly 525 basis points of reductions […] More
A Fifth Peruvian Central Bank Rate Hike
September 10, 2010
The Central Reserve Bank of Peru’s policy interest rate was lifted by 50 basis points to 3.0% as expected. Five straight monthly increases total 175 bps, reversing a third of the cumulative reductions during February-August 2009. Peru experienced sizzling economic growth of 8% in the first half of 2010. While CPI inflation of 2.3% lies […] More
Peru Gets a 50-Basis Point Central Bank Rate Hike
August 5, 2010
Analysts had not expect a rate hike of as much as 50 basis points delivered by the Central Reserve Bank of Peru. This move was twice as much as the ones in May, June and July and brought the cumulative withdrawal of stimulus to 125 basis points, just 25 bps less than Brazil’s central bank […] More
Central Reserve Bank of Peru Tightens Again
July 8, 2010
A statement from monetary officials following today’s third straight monthly increase of 25 basis points in the reference lending rate deleted the prediction contained in the May and June rate hike explanations that this move needn’t foreshadow a sequence of moves, but officials did warn that the uncertain impact of global financial market turmoil could […] More
Peru Becomes Second Latin American Country with a Central Bank Rate Hike
May 7, 2010
The Central Reserve Bank of Peru lifted its reference rate for the first time since September 2008. The increase, like then, was by 25 basis points today to 1.50%, still 500 basis points below the prior cyclical peak. Today’s increase was not expected, and a statement from officials underscored the preventive nature of this action […] More
No Change in Peru’s 1.25% Central Bank Rate
April 9, 2010
Despite a hint a month ago of a possible rate increase this month but consistent with analyst expectations, the Central Reserve Bank of Peru kept policy steady at settings first established last August. During 2009, the benchmark interest rate was cut by 25 basis pints in February and March, 100 bps in April, May, June […] More
Central Reserve Bank of Peru Drops Hint of Coming Rate Increase
March 12, 2010
Peru’s central bank reference interest rate was left by officials at 1.25% after this week’s policy meeting. It has been at that level since a 75-basis point reduction last August. That had been the seventh consecutive monthly easing from a peak of 6.5% in the beginning of last year. Other reduction amounts were 25 bps […] More
