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Goldman Sachs on BCRP: Additional Near-Term Hikes Likely

PERU

Goldman Sachs: Additional Near-Term Hikes Likely

  • In their assessment, despite the data-dependent forward guidance additional near-term rate hikes are likely and would be in keeping with removing part of the current very high level of accommodation while still preserving a stimulative stance.
  • Given that the policy rate is currently at a very low 0.50% and the ex-ante real policy rate has continued to decline, additional rate hikes would still maintain a highly accommodative/expansionary monetary stance.
  • Beyond inflation, political and policy uncertainty and risk management considerations could also lead the central bank to go for a steady and more-frontloaded monetary policy normalization.
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