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BCRP Interest Rate Decision Due At 0000BST/1900ET

PERU
  • A reminder that the most likely outcome of the July BCRP meeting is for the committee to extend its pause in the easing cycle, holding the reference rate at 5.75%.
  • The persistence of core inflation above the upper bound of the target range should help to maintain the committee's cautious stance.
  • Furthermore, recent strength for domestic economic activity and a cautious Fed should bolster the likelihood of another hold at this juncture, while leaving the door open to resume easing later this year.
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