Interest Rate in Peru

Peru Interest Rate | Economic News & Forecasts

Peru - Interest Rate

Central Bank stands pat at first meeting in 2019

At its monetary policy meeting on 10 January, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations. It last cut the policy interest rate in March 2018, by 25 basis points, which ended an easing cycle.

Within-range inflation, anchored inflation expectations and firming but still below-potential economic activity led the Bank to hold the policy rate unchanged in January. Inflation came in at 2.2% in December, matching November’s result and comfortably remaining within the Central Bank’s target range of 1.0%–3.0%. Meanwhile, economic activity accelerated in October, while both business and consumer confidence strengthened in November and December. This indicates the economy gained traction in the final quarter, although the pace of expansion likely remained below potential, thus not exerting strong upward pressure on prices.

The Bank’s communiqué stated that it will maintain the current expansionary stance until both inflation and inflation expectations remain within the target range and economic growth approaches its potential. FocusEconomics panelists expect the monetary policy rate to increase moderately this year, as the Bank tightens its monetary stance due to growth approaching its potential and as inflation picks up. The next monetary policy meeting will be held on 7 February.

FocusEconomics Consensus Forecast panelists see the monetary policy rate ending 2019 at 3.53%. For 2020, the panel projects a rate of 3.80% at the end of the year.

Peru - Interest Rate Data

2013  2014  2015  2016  2017  
Policy Interest Rate (%)4.00  3.50  3.75  4.25  3.25  

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Peru Interest Rate Chart


Peru Interest Rate
Note: Monetary policy rate in %
Source: Peru Central Bank.

Peru Facts

ValueChangeDate
Bond Yield5.43-0.60 %Oct 15
Exchange Rate3.34-0.06 %Jan 14
Stock Market19,669-0.23 %Jan 14

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