Peru and Uruguay carry out more rate rises
Peruvian policy now “clearly restrictive”, analyst says, while Uruguay warns of risks to growth
The central banks of Peru and Uruguay both increased their policy rates at meetings on October 6.
The Central Reserve Bank of Peru (BCRP) hiked its key rate by 25 basis points to 7%, while the Central Bank of Uruguay raised its policy rate 50 bps to 10.75%.
Like most jurisdictions globally, both economies are recording above-target inflation readings. This is mostly due to higher energy and food prices derived from the Russian invasion of Ukraine, lingering supply chain bottlenecks, and a
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