Peru central bank raises rates for third time in two months

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The board of Peru’s central bank voted to increase its policy rate on October 7, its third increase since August.

The Central Reserve Bank of Peru ordered a 50-basis-point increase in the policy rate, bringing it to 1.5%. It has now raised the rate by 125bp over the last two months.

Between March 2020 and August 2021, the BCRP held the policy rate at 0.25%. The BCRP cited above-target inflation in its press release, but said it expected this to be transitory.

Inflation reached 5.23% in

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