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PERU: BCRP Interest Rate Decision Today

PERU
BulletPeruEM BulletEmerging Market News
  • A majority of analysts expect the BCRP to keep its interest rate on hold at 4.75% today, albeit with risks of a further cut, given the benign inflation backdrop (2300GMT/1800ET). The central bank will be encouraged by the latest set of inflation data, which showed headline CPI inflation dip to 1.85% y/y, while core inflation fell to a three-year low, keeping the door open to another 25bp cut.
  • However, the explicit mention to the reference rate “approaching the level estimated as neutral”, a more hawkish Fed and prominent external risks relating to global trade may prompt a cautious hold at this juncture.
    • The full MNI preview with analyst views is here. 
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  • A majority of analysts expect the BCRP to keep its interest rate on hold at 4.75% today, albeit with risks of a further cut, given the benign inflation backdrop (2300GMT/1800ET). The central bank will be encouraged by the latest set of inflation data, which showed headline CPI inflation dip to 1.85% y/y, while core inflation fell to a three-year low, keeping the door open to another 25bp cut.
  • However, the explicit mention to the reference rate “approaching the level estimated as neutral”, a more hawkish Fed and prominent external risks relating to global trade may prompt a cautious hold at this juncture.
    • The full MNI preview with analyst views is here.