Peru slows down tightening cycle to 25bp hike
Central bank had implemented 50bp rate increases every month since September 2021
Peru’s central bank slowed down its ongoing tightening cycle, increasing interest rates by just 25 basis points at its policy meeting on September 8.
The Central Reserve Bank of Peru’s reference interest rate now stands now at 6.75%. The central bank board had previously implemented interest rate increases of 50bp every month since September 2021.
The board’s policy statement noted year-on-year inflation declined in August to 8.4% from 8.74% in July, still considerably over the target range of
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