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Peru Seen Raising Rates for Tenth Consecutive Meeting

PERU
  • The Peruvian central bank are today seen raising rates by 50bps to 5.00% (decision due at 0000BST/1900ET) in what would be the tenth consecutive rate rise for the bank. In a similar manner to the rest of Latin America, Peru are facing spiralling food prices, with clogged supply chains and a global lack of fertilizer products pushing consumer inflation higher.
  • Elsewhere, political uncertainty extends in Peru as the Libre Party leader Cerron has now taken control of the executive branch of government after the resignation of Guillen – who failed to gain the backing of President Castillo.
  • This has in turn delayed the cabinet reshuffle pledged by Castillo, who may now need the endorsement of Cerron. The disclosures came as part of an interview with Guillen in Canal N.
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  • The Peruvian central bank are today seen raising rates by 50bps to 5.00% (decision due at 0000BST/1900ET) in what would be the tenth consecutive rate rise for the bank. In a similar manner to the rest of Latin America, Peru are facing spiralling food prices, with clogged supply chains and a global lack of fertilizer products pushing consumer inflation higher.
  • Elsewhere, political uncertainty extends in Peru as the Libre Party leader Cerron has now taken control of the executive branch of government after the resignation of Guillen – who failed to gain the backing of President Castillo.
  • This has in turn delayed the cabinet reshuffle pledged by Castillo, who may now need the endorsement of Cerron. The disclosures came as part of an interview with Guillen in Canal N.