The Central Bank of Peru has revised down its projected growth rates from 5.5% to 5.1% for 2013 and from 6.2% to 6% for 2014 in its latest inflation report.

Meanwhile it expects inflation, at 3% annualised in November, to converge to the bank's 2% target in 2014. "This scenario considers that there would be no major inflationary pressures associated with increases in the prices of commodities and that monetary policy actions would maintain inflation expectations anchored within the target range