Peru’s central bank makes first rate cut since pandemic
The Central Reserve Bank of Peru (BCRP) cut rates on September 14, for the first time since the beginning of the Covid-19 pandemic.
The board of directors reduced the reference rate by 25 basis points to 7.5%. The overnight deposit rate is at 4.75%, and the currency repo rate is at 8%.
The decision means the Peruvian central bank joined its peers in Brazil and Chile, which started cutting rates in recent months.
“This reduction occurs in a context of lower inflation expectations, weaker
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