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Scotiabank Do Not Expect Much Reaction From April 'Placeholder' Announcement

PERU
  • Scotiabank say that Peru's central bank is expected to remain on hold again at 7.75%. It's premature to court easing expectations especially after March CPI at 1.25% m/m NSA was one of the hottest months of March over the past couple of decades.
  • There likely won’t be too much in the way of changes to the bank’s tone in today’s (mostly) placeholder announcement, so don’t expect much reaction in local markets when they open to the news on Friday, while Saturday’s data run (jobless rate and economic activity) could help Scotiabank refine their expectations for the policy rate ahead—which they see unchanged until the tail-end of 2023.
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