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PERU: BCRP Governor Velarde Confident Inflation Will Remain Within Target

PERU
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  • Comments from the BCRP’s Velarde have hit the wires, with the governor saying that the fiscal deficit will hit 3.3% of GDP this year, well above the government’s 2.8% target under its fiscal rule.
  • He also said that headline inflation will be around 2.00-2.05% y/y in September (vs. 2.03% in August) and that he is confident it will remain within the 1-3% target range this year. He sees it ending the year at 2.3%, marginally above the previous 2.2% forecast. Core inflation will ease to 2.5% by year-end he said, down from 2.78% y/y currently.
  • Velarde still expects the economy to grow 3.1% this year, in line with the previous forecast.
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  • Comments from the BCRP’s Velarde have hit the wires, with the governor saying that the fiscal deficit will hit 3.3% of GDP this year, well above the government’s 2.8% target under its fiscal rule.
  • He also said that headline inflation will be around 2.00-2.05% y/y in September (vs. 2.03% in August) and that he is confident it will remain within the 1-3% target range this year. He sees it ending the year at 2.3%, marginally above the previous 2.2% forecast. Core inflation will ease to 2.5% by year-end he said, down from 2.78% y/y currently.
  • Velarde still expects the economy to grow 3.1% this year, in line with the previous forecast.