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PERU: BCRP Governor Velarde Expects Inflation To Remain Around 2%

PERU
BulletPeruEM BulletEmerging Market News
  • Speaking at a business conference earlier, BCRP President Julio Velarde said that although it may pick up slightly this month, inflation is very controlled and is expected to hover around 2% for the foreseeable future.
  • However, he also said that the increase in public spending to boost the economy is limiting the pace at which the central bank can cut interest rates, adding that the fiscal deficit, which is currently at 4.1% of GDP, is too high.
    • "Peru inflation is "very controlled" around 2%: Velarde" - BBG
    • “Peru inflation may pick up slightly this month”
    • "Growth of Peru public spending is limiting rate cuts "
    • "Peru fiscal deficit is "too high"
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  • Speaking at a business conference earlier, BCRP President Julio Velarde said that although it may pick up slightly this month, inflation is very controlled and is expected to hover around 2% for the foreseeable future.
  • However, he also said that the increase in public spending to boost the economy is limiting the pace at which the central bank can cut interest rates, adding that the fiscal deficit, which is currently at 4.1% of GDP, is too high.
    • "Peru inflation is "very controlled" around 2%: Velarde" - BBG
    • “Peru inflation may pick up slightly this month”
    • "Growth of Peru public spending is limiting rate cuts "
    • "Peru fiscal deficit is "too high"