October 21, 2024 11:55 GMT
PERU: BCRP’s Velarde Attends IMF, World Bank Annual Meeting
PERU
- BCRP Governor Julio Velarde will attend the IMF and World Bank annual meeting in Washington DC from 1900BST(1400ET) today. Separately, attention will also be on a potential Peruvian judicial ruling on a corruption case against former president Alejandro Toledo, which is expected soon.
- No macro data are due today, with the next publication set to be October CPI inflation on November 1. After that, attention will turn to the next BCRP interest rate decision, which is due on November 7. To recap, the BCRP unexpectedly kept its policy rate unchanged at 5.25% earlier this month, despite the larger-than-expected drop in September CPI inflation. Analysts expect the central bank to continue with gradual rate cuts ahead, but with risks of another pause next month, amid an anticipated temporary uptick in inflation.
- Since the start of October, USDPEN has moved higher in its recent range of USDPEN 3.81-3.70, although it has more recently found strong resistance around 3.77, with BCRP support.
157 words