Peru holds policy rate amid election battle

Photo of Julio Velarde
Julio Velarde, Central Reserve Bank of Peru
Photo: MARIANA BAZO/Reuters/PA Images

Peru’s central bank held its policy rate at 0.25%, continuing what it calls its “expansive monetary policy” as the country’s divisive elections near a conclusion.

The Central Reserve Bank of Peru (BCRP) announced the decision on June 10. It has kept the rate at 0.25% since lowering it by 200 basis points in two meetings in March and April 2020.

The BCRP cited a relatively low inflation rate of 2.45% in May, which it said was towards the lower end of its target range. It expected inflation to

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