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BCRP Expected To Raise Rates By 50Bp To 3.5%

PERU
  • Peru will likely lift its rate for a seventh straight month, by 50bps, to 3.5%, according to all economists surveyed by Bloomberg. The central bank has now completely unwound all its cuts from the pandemic, but still has the lowest policy rate among major economies in the region.
  • Peru Finance Minister Oscar Graham said the government will reject a bill approved by congress to return around 42 billion soles ($11 billion) to workers who contributed to a defunct housing fund, according to remarks at the first press conference of the new cabinet. (BBG)
    • The bill would generate a serious imbalance in public finances, Graham said.
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