Central Reserve Bank of Peru
April 12, 2018
Being an even-numbered calendar month, Peru’s central bank board did not change its policy interest rate in April. The last six reductions, each by 25 basis points, were made at scheduled monthly meetings in the even months of May, July, September, November, January and March. The rate is now at 2.75%, and the statement accompanying today’s decision reads dovishly. Officials observe that inflation has fallen in five consecutive months and, at just 0.4% last month, was well below the 1.0% target floor. Expected inflation is also subsiding, and economic growth is below the estimated non-inflationary speed limit. Officials also note an increase in global financial market uncertainty.
Copyright 2018, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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