Central Reserve Bank of Peru Cuts Reference Rate By Full Percentage Point

April 9, 2009

Peru’s key central bank interest rate was reduced to 5.0% from 6.0%, a much bigger drop than those of 25 basis points each in March and February. The monetary authorities released a statement citing the deceleration of CPI inflation to 4.8% in March from 6.7% at end-2008 and predicting a return to in-target inflation by the final quarter of this year amid slowdowns in global and Peruvian private domestic demand.  The statement says that more rate cuts will be possible if economic trends unfold as officials expect.

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

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