Peru hikes policy rates as inflation exceeds target
The Central Bank of Peru’s board increased interest rates for the first time since the beginning of the pandemic, citing above-target inflation.
The board voted to increase the policy rate by 25 basis points to 0.5%, but pointed out it is still maintaining an expansionary policy stance. Due to higher inflation, real rates now stand at a record low of -3.3%.
In its policy statement, the board says it is “appropriate to maintain an expansionary stance as long as the negative effects of the
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