Peru’s central bank holds rates despite high inflation

Central Reserve Bank of Peru
The Central Reserve Bank of Peru

The Central Reserve Bank of Peru’s (BCRP) board of directors left rates unchanged at its monetary policy meeting on June 8.

This is the fifth consecutive time the BCRP board has voted to leave the policy rate at 7.75%, the level it reached in January. The board started increasing rates from 0.25% in August 2021.

Peru’s headline year-on-year inflation fell slightly from 8% in April to 7.9% in May, but remains well over the target range of 1–3%. Core inflation, excluding food and energy prices

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