Peru's BCR raises its benchmark rate to 4.50%, first hike since 2023
Peru's Central Reserve Bank raised its benchmark rate by 25 basis points, from 4.25% to 4.50%, its first increase since January 2023. The move seeks to bring inflation back to the target range, amid supply shocks, expectations above the range and dynamic domestic demand. Annual inflation rose from 4.5% in September to 5.3% in October, driven by food and energy. The BCR said the decision does not necessarily mark the start of successive hikes.
In 40 seconds
- The BCR raised the benchmark rate by 25 basis points, from 4.25% to 4.50%, the first increase since January 2023.
- Annual inflation rose from 4.5% in September to 5.3% in October on food and energy; twelve-month expectations held at 3.1%.
- The central bank said the decision does not necessarily mark the start of successive hikes and will assess core inflation, expectations and activity.
Read the full story at El Comercio Perú
IASummary generated by artificial intelligence from a story by El Comercio Perú. It may contain errors: the original source prevails.
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