Peru continues gradual policy tightening
Central bank hikes rates by 25bp and forecasts inflation will reach target level by mid-2023
The Central Reserve Bank of Peru increased interest rates by 25 basis points at its monetary policy meeting on November 10.
This is its third consecutive 25bp rate hike, which follow 12 consecutive 50bp increases. As a result, the reference interest rate is now at 7.25%, the overnight deposits rate is at 5.25%, and the repo and discounts rate at 7.75%.
The central bank started increasing interest rates in August 2021, when rates stood at 0.25%. From then on it has raised the policy rate at
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