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Velarde Rules Out Bolder Moves On Rates, Castillo Questioned In Probe

PERU
  • Central bank chief Julio Velarde ruled out aggressive interest rate increases to fight rising inflation estimates in the Andean country, even as the US Federal Reserve steps up the pace of monetary tightening.
    • The central bank increased on Friday its forecast for Peru’s 2022 inflation to 6.4% from 3.6%, and now sees prices rising 2.5% next year, from 2.1% previously.
  • The Supreme Court tossed out a bid by President Pedro Castillo to block a congressional investigation over allegations he committed treason, La Republica news site reported on Sunday.
  • Separately, Castillo told reporters that he was questioned by Prosecutor Pablo Sanchez during four hours, according to images broadcast on RPP TV.
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