Peru and Uruguay cut rates again
Peru’s central bank says growth forecasts are gloomy, but Uruguay hints at end to cuts
The central banks of Uruguay and Peru again cut their reference rates in their most recent monetary policy meetings.
Uruguay’s monetary policy committee hinted the central bank may soon end its programme of rate reductions, while Peru’s said most economic growth forecasts were ”pessimistic”.
The Central Reserve Bank of Peru cut its key rate by 25 basis points to 7.25% at its monetary policy meeting on October 5. This was the second consecutive monthly meeting where it carried out a 25bp cut.
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