Peru: Central Bank leaves rates on hold for a fourth consecutive month
September 8, 2011
At its 8 September monetary policy meeting, the Central Bank decided to maintain the reference rate at 4.25% in a decision broadly expected by the market. The Bank's decision marks four consecutive months that monetary authorities have left interest rates unchanged. The Central Bank stated that its decision reflects a moderation in economic activity. In addition, inflationary pressures remain at bay, with inflation easing in August. Finally, officials argued that indicators of global economic activity continue to show weakness and that greater uncertainty persist in the global financial markets. The next policy meeting is scheduled for 6 October.
Author: Ricardo Aceves, Senior Economist