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Deutsche Bank Expect BCRP To Adopt Cautious Stance

PERU
  • Deutsche Bank expect BCRP on hold at 7.75%. While inflation is coming down, the m/m print during March was not only higher than expected but also significantly above the historical print for the month.
  • While seemingly driven exclusively by poultry prices and even though several indexes relevant to company costs such as wholesale prices and construction materials show a declining inflation trend, Deutsche expect the BCRP to adopt a cautious stance due not only to the potential disruption of inflation expectations of the recent inflation surprise but also due to the heightened uncertainty regarding global growth prospects.
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