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PERU: BCRP Expected To Stay On Hold This Week

PERU
BulletPeruEM BulletEmerging Market News
  • No macro data are due today, with focus this week on Thursday’s BCRP monetary policy meeting. With the central bank signalling last month that a pause in the easing cycle is likely, the BCRP is expected to stay on hold this week, at 5.0%, according to a majority of analysts in the latest Bloomberg survey. Within this survey, however, a minority do still see scope for a further 25bp cut this week. A full MNI preview, with analyst views, will be published ahead of the meeting.
  • In terms of the data, the pick-up in CPI inflation in November gives a reason to pause, although BCRP Governor Velarde did say ahead of the numbers that inflation remains very controlled and is set to hover around 2% for the foreseeable future. However, Velarde also said that the increase in public spending to boost the economy is limiting the pace at which the central bank can cut interest rates, adding that the fiscal deficit, which is currently at 4.1% of GDP, is too high.
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  • No macro data are due today, with focus this week on Thursday’s BCRP monetary policy meeting. With the central bank signalling last month that a pause in the easing cycle is likely, the BCRP is expected to stay on hold this week, at 5.0%, according to a majority of analysts in the latest Bloomberg survey. Within this survey, however, a minority do still see scope for a further 25bp cut this week. A full MNI preview, with analyst views, will be published ahead of the meeting.
  • In terms of the data, the pick-up in CPI inflation in November gives a reason to pause, although BCRP Governor Velarde did say ahead of the numbers that inflation remains very controlled and is set to hover around 2% for the foreseeable future. However, Velarde also said that the increase in public spending to boost the economy is limiting the pace at which the central bank can cut interest rates, adding that the fiscal deficit, which is currently at 4.1% of GDP, is too high.