Peru holds rates for second month

Governor says economic growth likely to underperform central bank’s estimates

Julio Velarde
Julio Velarde
Ministerio de Defensa del Perú

Peru’s central bank held its policy rate for the second month in a row on March 9, following 18 months of policy tightening.

The policy rate remains at 7.75%, up from 0.25% when the Central Reserve Bank of Peru began its tightening cycle in the third quarter of 2021.

“This decision does not necessarily imply the end of the cycle of interest rate hikes,” said the central bank board in a statement. The board made a similar comment after its February meeting.

“If we have to raise the rate, there

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