Given the fall in inflation indicators, the BCRP raised the reference rate to a level not seen since September 2022.
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The Central Reserve Bank of Peru (BCRP) reduced the reference interest rate by 25 basis points, now placing it at 6.75%.
The reduction in the rate that regulates interbank operations in the local market is explained by the inflation data seen in November: it reached 3.6% and without food or energy, 3.3% in interannual terms. They are still above the maximum limit of the target range (3.0%) but the BCRP estimates that “in the coming months” they will return to this space.
However, the CPI without food or energy would close 2023 within the target range due to the moderation of the effect of international prices of various items, the reversal of supply shocks in agriculture and the fall in inflation expectations.
Likewise, the BCRP board of directors points out that the indicators on the economic future still maintain a pessimistic majority.
Finally, they specified that the recent reduction in the reference rate – which equaled the rate given in September 2022 – does not imply a cycle of successive reductions.
Graduated from the Jaime Bausate y Meza University. In constant learning. Previously in Mundo, but now I write about economics in the newspaper La República.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
