Peru central bank raises rates again
Fourth hike since August “does not necessarily imply a cycle of successive increases”
The board of the Central Reserve Bank of Peru (BCRP) announced a 50-basis point increase in the policy rate on November 11, taking it to 2%.
This marks the fourth consecutive rate increase, amounting to 175bp in total since the cycle began in August.
The central bank acted in response to rising inflation, which reached a year-on-year figure of 5.8% in October, up from September’s 5.2%. Excluding food and energy prices, core inflation was 2.8%.
The BCRP maintains an inflation target range of 1
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