Peru continues gradually cutting policy rates
Inflation falling slowly towards target while 2024 promises low growth
Peru’s central bank continued a programme of gentle monetary loosening on November 9, unanimously deciding to cut the policy rate by 25 basis points, to 7%.
This is the third monthly meeting to order a 25bp cut. However in its statement, the central bank’s board said the November decision “does not necessarily imply a sequence of interest rate reductions”.
The Central Reserve Bank of Peru raised its policy rate by 750 basis points between the second half of 2021 and January 2023.
Inflation
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