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Analysts Expect BCRP To Extend Pause This Week

PERU
  • After testifying before prosecutors for five hours as part of an investigation into illegal enrichment on Friday, President Boluarte said that all but one luxury watch were a loan from a friend, adding it was a mistake to have accepted the watches and that she had since given them back.
  • Boluarte said the fact that they were a loan meant she was not under obligation to disclose her ownership of them. Her comments followed the votes by Congress last week to reject advancing the impeachments motions against her.
  • On the data front, the domestic calendar is empty today, with focus this week on BCRP’s MPC meeting on Thursday. According to the latest Bloomberg survey, most analysts expect the central bank to extend the pause in its easing cycle, following stronger-than-expected CPI inflation data, although one does see scope for another cut this week.
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