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PERU: Barclays Sees BCRP Pause This Week, 75bp Further Cuts This Year

PERU
PeruEM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • Barclays thinks that the central bank will hold the policy rate at 4.75% on Thursday. Although inflation is around its 2.0% target, the bank has already brought rates to a level that is close to the Fed’s, while Barclays sees risk of increased political instability and noise as the year progresses.
  • Nonetheless, Barclays thinks the BCRP could still make three more cuts of 25bp through the rest of year, to close the cycle at 4.00%.
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  • Barclays thinks that the central bank will hold the policy rate at 4.75% on Thursday. Although inflation is around its 2.0% target, the bank has already brought rates to a level that is close to the Fed’s, while Barclays sees risk of increased political instability and noise as the year progresses.
  • Nonetheless, Barclays thinks the BCRP could still make three more cuts of 25bp through the rest of year, to close the cycle at 4.00%.