Peru’s central bank continues policy tightening
Most indicators are pessimistic, central bank says, as IMF staff warn of possible currency pressure
Peru’s central bank continued tightening monetary policy after its board of directors’ meeting on March 10, raising its key policy rate by 50 basis points.
The Central Reserve Bank of Peru board unanimously decided to increase the key policy rate to 4%. However, real rates remain negative due to above-target inflation. In February year-on-year inflation increased by 6.15%, above the central bank’s medium-term target of within a 1–3% band.
Higher price increases were mainly due to “a surge in
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