Peru: Central Bank stays put for 11th consecutive month
April 12, 2012
At its 12 April monetary policy meeting, the Central Bank maintained the reference rate unchanged at 4.25%, in a decision expected by market analysts. The Bank's move means that monetary authorities have left the main monetary policy rate unchanged for 11 months in a row. In its accompanying statement, the Central Bank argued that the decision to keep interest rates unchanged was due to the fact that the deviation in inflation has reflected temporary supply factors and the pace of economic growth is close to potential. In addition, monetary authorities acknowledged that inflation expectations for the year are anchored within the target range. The next policy meeting is scheduled for 10 May.
Author: Ricardo Aceves, Senior Economist