Peru raises rates for 18th consecutive month
Inflation remains stubbornly high, but central bank is optimistic it will fall in 2023
The Peruvian central bank raised its policy rate by 25 basis points on January 12, to 7.75%. This is the eighteenth consecutive increase since policy-makers adopted a more restrictive policy in August 2021. In total, the Central Reserve Bank of Peru has raised its reference rate 750bp in this cycle.
In a statement, the central bank’s board of directors reported that headline inflation has effectively stalled, rising one basis point between November and December to 8.46%. Core inflation fell
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