Peru hikes rates 50bp again

Julio Velarde
Julio Velarde
Ministerio de Defensa del Perú

The board of Peru’s central bank extended a string of rate increases on January 6, raising rates by 50 basis points to 3%.

The Central Reserve Bank of Peru (BCRP) began lifting rates from near-zero pandemic levels in August, and has ordered 50bp hikes each month since September. In total, the BCRP has increased its reference rate by 275 basis points since August.

The central bank described its decision as “continuing the normalisation of the monetary policy stance”. It noted that inflation was

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