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PERU: BCRP Expected To Continue Gradual Easing Cycle Today

PERU
PeruEM BulletBulletGlobalEmerging Market NewsRegion
  • Following the soft September CPI data, the BCRP is expected to deliver another 25bp cut to 5.0% at 0000BST/1900ET. Headline inflation fell to its lowest level since October 2020 last month, while core prices have shown no variation over the last two months, giving policymakers room to continue with their gradual easing cycle. Most analysts are forecasting a 25bp cut, although some see risks of a renewed pause amidst signs of a recovery in activity.
    • The full MNI preview with analyst views is here.
  • Nonetheless, mounting fiscal pressures could become a concern for policymakers going forward, as highlighted by the country’s Fiscal Council yesterday. The council reiterated its concerns about the continued deterioration in Petroperu’s finances, which is adding to fiscal risks for the government. They noted that the government is unlikely to hit its revised 2.8% of GDP fiscal deficit ceiling for this year.
  • In other news, transportation companies in the country will strike today in protest of threats of extortion and contract killings.
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  • Following the soft September CPI data, the BCRP is expected to deliver another 25bp cut to 5.0% at 0000BST/1900ET. Headline inflation fell to its lowest level since October 2020 last month, while core prices have shown no variation over the last two months, giving policymakers room to continue with their gradual easing cycle. Most analysts are forecasting a 25bp cut, although some see risks of a renewed pause amidst signs of a recovery in activity.
    • The full MNI preview with analyst views is here.
  • Nonetheless, mounting fiscal pressures could become a concern for policymakers going forward, as highlighted by the country’s Fiscal Council yesterday. The council reiterated its concerns about the continued deterioration in Petroperu’s finances, which is adding to fiscal risks for the government. They noted that the government is unlikely to hit its revised 2.8% of GDP fiscal deficit ceiling for this year.
  • In other news, transportation companies in the country will strike today in protest of threats of extortion and contract killings.