Free Trial
OIL

Guyana Crude Exports by Discharge Region

US TSY OPTIONS

BLOCK, More 5Y Ratio Put Spds

OIL PRODUCTS

Weekly US Imports of EU Gasoline Decline

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

Peru Central Bank Review – August 2022

PERU
  • On Thursday, the BCRP decided to raise the reference interest rate by 50 bps to 6.50%. This represents the highest rate since January 2009.
  • The statement cited the significant increase in international food and fuel prices over the past year which has led to a sharp increase in global inflation in magnitudes not seen in many years.
  • Inflation is now expected to return to the target range in the second half of 2023, whereas previously the board had indicated the return to the target range would be “between the second and third quarter of next year”.
  • In an identical paragraph on guidance, “the Board is particularly attentive to new information on inflation and its determinants, including the evolution of inflation expectations and economic activity, with an aim to consider changes in the monetary stance so that inflation returns to the target range over the forecast horizon.”
  • Link to statement here: https://www.bcrp.gob.pe/eng-docs/Monetary-Policy/I...
  • The BCRP Board’s next monetary policy session will take place on September 8, 2022.
162 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • On Thursday, the BCRP decided to raise the reference interest rate by 50 bps to 6.50%. This represents the highest rate since January 2009.
  • The statement cited the significant increase in international food and fuel prices over the past year which has led to a sharp increase in global inflation in magnitudes not seen in many years.
  • Inflation is now expected to return to the target range in the second half of 2023, whereas previously the board had indicated the return to the target range would be “between the second and third quarter of next year”.
  • In an identical paragraph on guidance, “the Board is particularly attentive to new information on inflation and its determinants, including the evolution of inflation expectations and economic activity, with an aim to consider changes in the monetary stance so that inflation returns to the target range over the forecast horizon.”
  • Link to statement here: https://www.bcrp.gob.pe/eng-docs/Monetary-Policy/I...
  • The BCRP Board’s next monetary policy session will take place on September 8, 2022.