• TRM (USD/COP)COP 3,301.91 +0.15% +COP 4.84Colombia's official exchange rate (Financial Superintendence), valid Nov 13 to Nov 13
  • EuroCOP 3,649.29 -0.53% -COP 19.38Reference: TRM crossed with the European Central Bank rate of Nov 13; not the market quote
  • Mexican pesoCOP 177.59 +0.50% +COP 0.89Reference: TRM crossed with the European Central Bank rate of Nov 13; not the market quote
Quilla NewsFinance & Technology
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Peru's BCRP raises benchmark rate from 4.25% to 4.50%, first hike since January 2023

FinanceInternationalGestiónAI summary
Image: Gestión

The Central Reserve Bank of Peru raised its benchmark interest rate from 4.25% to 4.50%, its first increase since January 2023. The central bank aims to bring inflation back to its target range of 1% to 3%, amid strong supply shocks, higher inflation expectations and strong domestic demand. Annual inflation in October stood at 5.25%. Analysts say short-term credit would feel the impact first.

In 30 seconds

  • The benchmark rate rises from 4.25% to 4.50%, the first hike since January 2023 after months of easing.
  • Annual inflation in October reached 5.25%, above the 1% to 3% target range.
  • The BCRP cited supply shocks, higher inflation expectations and dynamic domestic demand.
Read the full story at Gestión

IASummary generated by artificial intelligence from a story by Gestión. It may contain errors: the original source prevails.

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