Peru
Peruvian Monetary Policy Remains on Hold
August 9, 2012
The last change of the Central Bank of Peru’s monetary policy interest rate was a 25-basis point hike announced May 12, 2011 to 4.25%. That streak of an unchanged stance extend for yet another month even though July inflation of 3.3% lay above the 1-3% target range. In a statement, officials said that the elevation […] More
Peru Central Bank Rate Kept at 4.25%
December 8, 2011
Peruvian monetary policy has been paused since May 2011 following ten hikes totaling 300 basis points squeezed into a 12-month period. A statement from the Central Reserve Bank of Peru contains standard boiler plate anti-inflationary stuff, tying future policy moves to “the evolution of inflation and its determinants.” The statement blames temporary factors for a […] More
Peru’s Reference Monetary Policy Rate Left at 4.25%
October 6, 2011
The Central Reserve Bank of Peru did not change policy this month but served notice that it is watching global growth risks very carefully in a statement posted on its web site. The statement also observes a recent moderation in Peruvian growth. This decision takes into account the slowdown observed in some components of expenditure […] More
Peru: Another Central Bank Deterred by Global Uncertainty
August 11, 2011
Like their Norwegian and South Korean counterparts earlier this week, officials at the Central Reserve Bank of Peru left their key reference rate unchanged at 4.25%, concluding that prudence would be the better part of valor. In their statement of explanation, the authorities cited some evidence of slowing Peruvian growth and the increased uncertainty in […] More
Peruvian Monetary Tightening Paused This Month at 4.25%
June 10, 2011
The Central Reserve Bank of Peru did not implement an eleventh rate hike since May 2010 today, fooling analysts. A statement today seized upon a drop of CPI inflation to 3.1% last month from 3.4% in April and 2.7% in March to justify the pause and also noted somewhat slower economic growth signaled by some […] More
Peruvian Key Interest Rate Lifted 25 Basis Points
May 12, 2011
The Central Reserve Bank of Peru also has raised its key reference rate in a hurry after having cut such extensively during the world recession. The rate was reduced by 525 basis points from 6.5% prior to February 2009 to 1.25% just six months later. Today’s increase of 25 basis points was the tenth increase […] More
Central Reserve Bank of Peru Tightens Again
April 7, 2011
As analysts expected, officials at Peru’s central bank lifted their reference interest rate by another 25 basis points just as they had done each month of this year’s first calendar quarter. That cumulative one percentage point of tightening, which leaves the key rate at 4.0%, augments five rate hikes last year, respectively of 25 basis […] More
Peru Gets Another Central Bank Rate Hike
March 11, 2011
The Central Reserve Bank of Peru lifted its reference rate by 25 basis points for the third straight month and released a statement calling the action “preventive” in the face of rising world food and energy costs. Inflation stands at just 2.2%, but Peru has one of Latin America’s fastest-growing economies. The reference rate now becomes […] More
Peru Rate Decision: No Change
December 9, 2010
Following five consecutive monthly increases in Peru’s monetary policy reference rate, there have now been three meetings without a change in the 3.0% rate. The combined increase of 175 basis points reversed a third of the steep reduction of rates during the recession and left the rate at a more normal level. Meanwhile, Peruvian inflation […] More
Peru Monetary Policy Extends Pause
November 11, 2010
The Central Reserve Bank of Peru retained a 3.0% reference monetary policy rate after the penultimate monthly meeting of 2010. It had also not tightened in October following five consecutive rate increases totaling 175 basis points from May through September. A statement from officials noted that core and total inflation are near the 2.0% target […] More
