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MNI Peru Central Bank Review - Aug 2024: Easing Cycle Resumed

The BCRP resumed its easing cycle with a 25bp cut of the reference rate to 5.50%.

Central Bank of Peru - ReviewHomepageLatAm Bank - ReviewEM Central Bank ReportsEM Central Bank ReviewEmerging Market News

Executive Summary

  • Peru’s central bank resumed its easing cycle with a 25bp cut of the reference rate to 5.50%. Analysts had been split, with a majority expecting the BCRP to stay on hold.
  • The board highlighted the decline in core inflation, which likely prompted the decision to cut, and signalled a willingness to ease further dependent on the incoming data.
  • Analysts expect the central bank to continue with gradual rate cuts through H2, with risks of a more front-loaded adjustment.

Click to view the full review:

MNI Peru Central Bank Review - Aug 2024.pdf

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Executive Summary

  • Peru’s central bank resumed its easing cycle with a 25bp cut of the reference rate to 5.50%. Analysts had been split, with a majority expecting the BCRP to stay on hold.
  • The board highlighted the decline in core inflation, which likely prompted the decision to cut, and signalled a willingness to ease further dependent on the incoming data.
  • Analysts expect the central bank to continue with gradual rate cuts through H2, with risks of a more front-loaded adjustment.

Click to view the full review:

MNI Peru Central Bank Review - Aug 2024.pdf