IMF urges Peru to tighten monetary policy
Fund also says FX intervention may be needed short term
The International Monetary Fund urged Peru’s central bank to adopt a more restrictive monetary policy, saying it is currently “slightly expansionary”. The recommendation follows seven consecutive months of rate hikes by the central bank.
In the concluding statement of the latest Article IV consultation, issued on March 7, the IMF noted that “the outlook is very uncertain, and downside risks prevail”. The fund said that “further tightening is warranted to stabilise expectations”.
The Central
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