Peru central bank raises rates again

Julio Velarde
Julio Velarde
Ministerio de Defensa del Perú

The board of the Central Reserve Bank of Peru (BCRP) announced a 50-basis point increase in the policy rate on November 11, taking it to 2%.

This marks the fourth consecutive rate increase, amounting to 175bp in total since the cycle began in August.

The central bank acted in response to rising inflation, which reached a year-on-year figure of 5.8% in October, up from September’s 5.2%. Excluding food and energy prices, core inflation was 2.8%.

The BCRP maintains an inflation target range of 1

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