Interest Rate in Peru
Peru - Interest Rate
Central Bank raises rates again in August
At its 11 August meeting, the Central Bank of Peru raised its key policy interest rate by 50 basis points to 6.50%, bringing the cumulative increase for this year to 400 basis points.
The Bank continued to normalize its stance in order to rein in elevated inflation and inflation expectations. Both inflation and inflation expectations are well above the 1.0–3.0% target range, although they moderated slightly in July. The Bank sees inflation moving back into the target range in H2 2023.
The Bank stated that it was prepared to take additional steps going forward to ensure that inflation returned to target. Our panelists expect the tightening cycle to continue for the remainder of this year. However, it is likely to be considerably less marked than it has been to date: Inflation is projected to decline in H2 and the Central Bank could become more wary of the impact on economic activity.
The LatinFocus panel sees the monetary policy rate ending 2022 at 6.74% and 2023 at 5.52%.
Peru - Interest Rate Data
|Policy Interest Rate (%)||3.75||4.25||3.25||2.75||2.25|
5 years of economic forecasts for more than 30 economic indicators.
Peru Interest Rate Chart
Source: Peru Central Bank.
|Bond Yield||0.0||-0.60 %||Nov 08|
|Exchange Rate||3.31||-0.06 %||Jan 01|
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September 8, 2022
Consumer prices increased 0.67% over the previous month in August, slowing from the 0.94% increase seen in July.
August 25, 2022
GDP growth waned to 3.3% year on year in the second quarter, from 3.8% in the first quarter.
August 22, 2022
Merchandise exports shot up 18.6% in annual terms in June (May: -0.8% year-on-year).
August 18, 2022
Economic activity expanded 3.4% compared to the same month a year earlier in June, which was above May's 2.5% increase.
August 12, 2022
At its 11 August meeting, the Central Bank of Peru raised its key policy interest rate by 50 basis points to 6.50%, bringing the cumulative increase for this year to 400 basis points. The Bank continued to normalize its stance in order to rein in elevated inflation and inflation expectations.