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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Market News Topics
June 09, 2022 11:39 GMT
BCRP Unanimously Expected To Raise Rates 50BPs To 5.50%
PERU
- The central bank is expected to raise interest rates 50 basis points to 5.50%, according to all 11 economists surveyed by Bloomberg. This would mark the eleventh rate increase this cycle and tenth consecutive 50bp hike.
- Goldman Sachs on the decision:
- In their assessment, the outlook for inflation remains challenging and inflation expectations have deteriorated further. In the May central bank’s survey, economists’ inflation expectations for end-2022 and end-2023 rose by +50bp and +60bp, each to 6.0% and 3.8%, respectively.
- Additionally, political uncertainty and risk remain significant and the sizeable increase in the minimum wage and another round of pension fund withdrawals could increase inflationary pressures.
- Furthermore, the fact that the real ex-ante policy rate remains low, given the rise in inflation expectations, support the case for continued rate hikes in future meetings.
- Separately, five members from the Perú Libre (left) caucus in Congress have formed a new caucus under the name of Perú Bicentenario, due to disagreements with Perú Libre caucus actions and leadership. The governing party's caucus now only has 16 congresspeople. (AmericaElige)
To read the full story
Close
Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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