Peru holds rates amid too-close-to-call election
BCRP says effects of supply shocks that drove inflation will dissipate
The Central Reserve Bank of Peru (BCRP) has held its benchmark interest rate at 4.25%.
In a statement on June 11, the bank’s board said that although global risks were elevated because of the Iran war, the outlook for global growth this year remained positive and the “terms of trade continue to be favourable for the Peruvian economy”.
The decision had been expected by 13 analysts surveyed by Bloomberg, with one economist forecasting a 25 basis point increase.
The rates hold comes as Peru grapples
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