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Central Bank Decison Due, Castillo Submits Bill To Reduce Food Prices

  • Peru’s central bank is expected to raise its benchmark interest rate by 50 basis points to 4.50%, according to all seven economists surveyed by Bloomberg.
  • Further reports of rising political instability as Justice Minister Felix Chero suggested Peru politicians are organizing plans to destabilize the country, speaking on TV Peru.
  • President Pedro Castillo on Wednesday announced that the Executive Branch has submitted to Parliament Bill No. 1630 to reduce the price of foods such as chicken, noodles, sugar, and meat products by 19%.
    • In a post on Twitter, the Head of State said that this measure was taken to economically relieve Peruvian families in the context of the international crisis.
  • Separately, Prime Minister Anibal Torres said at a press conference that monopolies in Peru are seeking to oust President Pedro Castillo:
    • Peru should fight monopolies and oligopolies.
    • Government will exercise strict control on fuel prices in supply centres.

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