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Analysts Split Over BCRP Decision

PERU
  • Peru’s central bank meet today and as of writing, analysts are split over the decision. The meeting comes at an interesting juncture, given the most recent rhetoric from BCRP Chief Velarde last week where he said that the bank is “at the end” of the hiking cycle “but that does not mean that we are not going to lift.
    • 7/12 surveyed analysts forecast Peru’s central bank to raise its key rate by 25bps to 7.25%, five see the rate remaining unchanged.
  • Separately, copper output in Peru, the world’s No. 2 supplier, rose 13.5% in September from a year earlier, according to data compiled by the government.
    • Peruvian copper production of 229,990 tons in September was 10.7% bigger than in August. (BBG)
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  • Peru’s central bank meet today and as of writing, analysts are split over the decision. The meeting comes at an interesting juncture, given the most recent rhetoric from BCRP Chief Velarde last week where he said that the bank is “at the end” of the hiking cycle “but that does not mean that we are not going to lift.
    • 7/12 surveyed analysts forecast Peru’s central bank to raise its key rate by 25bps to 7.25%, five see the rate remaining unchanged.
  • Separately, copper output in Peru, the world’s No. 2 supplier, rose 13.5% in September from a year earlier, according to data compiled by the government.
    • Peruvian copper production of 229,990 tons in September was 10.7% bigger than in August. (BBG)