The issuing entity cut the reference rate again by 25 basis points due to the inflationary slowdown registered in January.
- Price of the dollar today in Peru: what is the exchange rate for this Thursday, February 8
- These are the 3 new labor changes that will apply in 2024: know the regulations
The board of directors of the Central Reserve Bank of Peru (BCRP) reduced the reference interest rate from 6.50% to 6.25%. The cut – expected by specialists given the lower inflationary pressure – this time was 25 basis points, and, according to the issuing entity, does not necessarily imply a cycle of successive reductions.
The BCRP’s decision is explained by the 0.02% monthly inflation rate in January and the 3.02% seen in interannual terms: one step away from the target range, set at 1% and 3%.
After the significant increase in the reference rate since mid-2021, Peru opted for a more marked decrease from June 2023, as some of the transitory effects on inflation due to restrictions on the supply of certain foods dissipated.
According to the BCRP, year-on-year inflation is expected to continue to decline, since the risks associated with the El Niño phenomenon “have been reduced.”
Regarding GDP, they remember that leading indicators show “mixed results” while business expectations have recovered, but the majority remain in pessimistic territory.
Trained at the Jaime Bausate y Meza University. In constant learning. Economics is the branch of journalism closest to the people and my duty is to be a bridge to information.
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.
