Peru
Colombia reduces rates as economy faces sharp recession
Central bank reduces rate by 50 basis points to 3.25%, GDP expected to fall by 10% in Q2
Greater exchange rate flexibility warranted in Peru – IMF
Limiting interventions would help reduce dollarisation further, says fund
Peruvian central bank on hold as outlook improves
The central bank cut rates in July amid weaker growth and global volatility
Uribe details aggressive Flar expansion plans
The Latin American fund chief, José Darío Uribe, speaks about: Flar’s efforts to support macroeconomic and financial stability; exposure to Venezuela; and more
Latin America’s escape from hyperinflation
Adoption of inflation targeting, flexible exchange rates and prudent fiscal policies in Brazil, Chile, Colombia, Mexico and Peru ended decades of runaway inflation
Peru central bank clashes with IMF over communication
Central bank says it has no plans to modify communication given success of guidance
Peruvian central bank cuts rates amid political crisis
Economy impacted by political crisis following the pardon of former president Alberto Fujimori
Peru cuts rates for first time in more than two years
Reversal in food prices prompts board into action, with inflation now expected to end the year within target band; central bank will remain attentive to external conditions
Commodity prices impact the probability of project completion in Peru – paper
BIS paper examines how a drop in oil prices affects the timing and completion of investment projects; results show mining sector in Peru is particularly sensitive
Latin American central bank interventions 'mitigate' liquidity shocks
Central banks more concerned with global factors than structural changes to forex markets; post-crisis regulation and tech advancements proving problematic for market makers
Inflation targeting ‘key' for successful de-dollarisation – IMF working paper
Peru's success story suggest "sound" monetary and macro-prudential policy can help de-dollarisation, paper says; favourable global environment helped in case of Peru
Central bankers from small Caribbean states to get IMF training under new deal
IMF to provide training at Washington headquarters to officials from smaller Caribbean states after Central Bank of Trinidad and Tobago offers financial support
IMF sees divergent risks in new outlook
IMF revises growth outlook for this year and next, while noting transformation in risks; Maurice Obstfeld discussed emerging market policy in anticipation of Fed hike
Central banks of Colombia and Peru expect bond impact from Fed rate hike
Even though markets are already anticipating a Fed interest rate hike, it will still have an impact on bond markets and asset prices, the governors of the central banks of Colombia and Peru argue
Colombian paper analyses relationship between term premia in US and Latin America
Brazil and Colombia are the Latin American countries with the largest responses to changes in the US term premium, according to research published by the Central Bank of Colombia
Colombian paper examines synchronisation of economic cycles in Latin America
Central Bank of Colombia working paper finds there is ‘not a high’ level of synchronisation between a sample of seven Latin American countries
Peru adopts measures to reduce credit dollarisation
Peru’s central bank lowers the reserve requirement for local currency loans to 9% as part of a suite of measures aimed at boosting financial stability
IMF paper suggests Peruvian forex interventions are asymmetric
The Central Bank of Peru has tended to react differently in the face of appreciation and depreciation pressures, research finds
Peru governor says Fed ‘normalisation’ will help reverse domestic slowdown
Central Bank of Peru governor Jose Velarde says Fed has ‘probably not’ done enough to limit international spill-over, but growth in the US will partially offset a slowdown in China
Chile and Peru cut key rates by 25bp citing 'low dynamism'
Both central banks point to a lack of “dynamism” in their economies as they cut their key interest rates; Peruvian statement stresses the decision does not imply a sequence of rate cuts
US monetary tightening could have ‘long-lasting impact' in Peru, says IMF paper
Investment slowdown in China and US policy ‘normalisation' would leave dents in country's dollarised economy, study finds
People: Greek governor confirmed; Ingves re-appointed to Basel Committee
The appointment of Yannis Stournaras as Bank of Greece governor has been confirmed in parliament; Ingves has a new term at the Basel committee; and more
Reserve requirements may speed up development of capital markets, Peruvian paper finds
Central bank reserve requirements dampen credit cycles in periods of capital inflows and reduce their expansionary effects on aggregate demand, according to central bank working paper
Central Bank of Peru revises annual growth and inflation rates downwards
Bank expects inflation, at 3% annualised in November, to converge to 2% target in 2014; IMF projects 2.5%, citing 'well-anchored expectations'