Peruvian board raises rate for seventh consecutive meeting
BCRP board hikes brings benchmark rate to 3.5%, despite fall in inflation rate
The Central Reserve Bank of Peru (BCRP) board tightened its policy rate for the seventh consecutive meeting, raising it by 50 basis points on February 10.
The BCRP has now raised the rate by 325bp since August, to its current level of 3.5%.
It lowered the benchmark rate to 0.25% in two decisions in March and April 2020, keeping it there for more than two years. By contrast, between September 2015 and May 2017, the benchmark rate was 4.25%.
In its press release, the BCRP board said that year
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