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Finance Minister Says Peru Is Not In A Recession

PERU
  • Finance Minister Alex Contreras has been speaking in a conference on Tuesday. He has highlighted that the finance ministry, despite seeing economic contraction in June, forecasts a return to growth in July and has reiterated that the economy is not in a recession.
  • The comments come as Lima CPI for July came in close to expectations, confirming a dip for the annual headline rate back below 6% for the first time since early 2022. While the data was moderately above expectations, the developments will be pleasing news for the central bank, who could choose to explicitly remove the tightening bias from next week’s policy statement. As a reminder the BCRP will meet on Thursday, August 10.

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