Peru holds rate at 7.75%
The Central Reserve Bank of Peru’s (BCRP’s) board of directors kept interest rates unchanged at its monetary policy meeting on May 11, despite above-target inflation.
It has now held policy since January, with the reference rate at 7.75%, the overnight deposits rate at 5.25% and the repo rate at 8.25%. But the board said its decision “does not necessarily imply an end to the BCRP’s monetary tightening cycle”.
It said this was mainly because inflation remains well over the target range of 1%-3%
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