Peru’s central bank doubles rates on higher inflation
MPC says it expects inflation to be temporary and says economy is still weak
The Central Reserve Bank of Peru doubled interest rates after its September 9 monetary policy meeting in a bid to tackle above-target inflation.
The BCRP raised its reference interest rate by 50 basis points to 1%, following the 25bp rate increase it implemented in August. The overnight deposit rate is now at 0.85%, and the direct security-currency repo and rediscount operations rates are both at 1.5%.
The monetary policy committee also changed the wording of its policy statement, which no
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