Peruvian Central Bank Interest Rate Cut
September 15, 2023
The board of directors at the Central Reserve Bank of Peru as expected cut its reference interest rate by 25 basis points to 7.50%. This reduction reverses the final hike of 25 basis points in a sequence of tightening from a starting point of 0.25% in August 2021 that ended at 7.75% in January 2023. Officials at BCRP were quick to disclaim today that “this decision does not necessarily imply a sequence
of interest rate reductions.” While projecting a continuing downtrend in year-on-year inflation, they warned of significant forecast risks related to climatic factors.
Copyright 2023, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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