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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.
PERU
- Monetary policy decision and statement press release: 2300GMT/1800Local - Thursday, December 14, 2023.
- The full preview with analyst views is here:
- The majority of analysts believe the BCRP will continue with its easing cycle by delivering another 25bp reference rate cut to 6.75%. However, the substantial downside surprise in both October & November CPI data (-0.32% M/m and -0.16% M/m respectively), alongside the ongoing weakness for economic activity indicators, has prompted some analysts to forecast a bolder 50bp rate cut. The most recent developments across global markets associated with the dovish pivot from the Fed has the potential to bolster the arguments for more aggressive action at this juncture.
- While inflationary developments may warrant a discussion over making a larger rate reduction, this may also run contrary to the cautious stance so far adopted by the central bank. Furthermore, prior BCRP statements have signalled that each rate cut throughout the cycle should not imply a sequence of consecutive rate cuts and therefore a major dovish shift should remain a low probability event and sending this kind of signal might be something the BCRP try and avoid at today’s meeting.
MNI Peru Central Bank Preview - December 2023.pdf
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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