Peru unexpectedly holds rates amid rising inflation
BCRP maintaining ‘hawkish stance’ by leaving open possibility of rate adjustment, economist says
Peru’s central bank has held its benchmark interest rate at 4.25% for the thirteenth consecutive meeting.
In a statement on October 7, the Central Reserve Bank of Peru (BCRP) said global risks remained elevated and uncertainty surrounding tensions in the Middle East persisted. “There is a risk that the El Niño phenomenon and geopolitical tensions… could have more persistent effects on inflation,” it said.
The decision came as a surprise to markets. Nine of the 13 analysts surveyed by Bloomberg had
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