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Ex-Finance Minister Predicts Year-End Reference Rate At 5.5%

  • A top Peruvian economist expects the central bank to cut interest rates in the second quarter, after weeks of violent unrest took the economy to the brink of recession.
  • Alfredo Thorne, a former finance minister now at New York-based economic research group Global Source Partners Inc., said the unrest has been so disruptive that the economy is now contracting.
  • Thorne forecasts the bank’s key rate will end the year at 5.5%, from 7.75% currently. (Bloomberg)
  • For reference, the BCRP surprised the majority of analysts by leaving interest rates unchanged last week.

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