Peru central bank raises rates for third time in two months
BCRP forecasts inflation will return to target, but expresses concern over expectations
The board of Peru’s central bank voted to increase its policy rate on October 7, its third increase since August.
The Central Reserve Bank of Peru ordered a 50-basis-point increase in the policy rate, bringing it to 1.5%. It has now raised the rate by 125bp over the last two months.
Between March 2020 and August 2021, the BCRP held the policy rate at 0.25%. The BCRP cited above-target inflation in its press release, but said it expected this to be transitory.
Inflation reached 5.23% in
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