Interest Rate in Peru
Peru - Interest Rate
Central Bank stands pat at June meeting
At its monetary policy meeting on 13 June, 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.
Unremarkable inflation, well-anchored inflation expectations and weakening and below-potential economic activity led the Bank to hold rates in June. Inflation came in at 2.7% in May, inching up from April’s 2.6% but remaining within the Central Bank’s target range of 1.0%–3.0% nevertheless. Meanwhile, GDP growth cooled significantly in Q1, weighed down by a sharp slowdown in fixed investment, while softening credit growth, lower business confidence and cooling public investment seem to be restraining activity in Q2. Following Q1’s slowdown, growth most likely remained below potential in Q2, with inflationary pressures consequently contained.
The Bank’s forward guidance was unchanged, reemphasizing that the BCRP will stand pat as long as both inflation and inflation expectations remain within the target range and until economic growth approaches its potential. FocusEconomics panelists expect the monetary policy rate to increase only gradually this year, as growth firms up and inflation gains speed.
The next monetary policy meeting will be held on 11 July.
FocusEconomics panel sees the monetary policy rate ending 2019 at 3.27% and 2020 at 3.67%.
Peru - Interest Rate Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Policy Interest Rate (%) | 4.00 | 3.50 | 3.75 | 4.25 | 3.25 |
Peru Interest Rate Chart
Source: Peru Central Bank.
Peru Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 5.43 | -0.60 % | Oct 15 |
| Exchange Rate | 3.31 | -0.06 % | Jun 20 |
| Stock Market | 20,588 | -0.23 % | Jun 20 |
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Economic News
Peru: Economic activity slumps to near one-decade low in April on transitory disruptions in mining sector
June 18, 2019
Economic activity was stagnant in year-on-year terms in April, down from the 3.2% expansion recorded in April and marking the worst result in nearly 10 years.
Peru: Central Bank stands pat at June meeting
June 13, 2019
At its monetary policy meeting on 13 June, the Central Bank of Peru (BCRP) kept the policy interest rate unchanged at an eight-year low of 2.75%, matching market expectations.
Peru: Business confidence at its lowest in seven months
June 7, 2019
The business confidence indicator declined from April’s 55.9 to 52.9 in May, but nevertheless remained above the 50-point threshold that separates optimism from pessimism, where it has been for over two years. May’s decline came on the back of worse assessments of current conditions, and of less rosy expectations on the economy as a whole and on the situation of the company.
Peru: Trade surplus at six-month low in April
June 7, 2019
Peru’s trade balance recorded a USD 259 million surplus in April, narrowing from March’s USD 471 million surplus as well as from the USD 340 million surplus recorded in the same month of last year. Exports dipped 2.3% year-on-year in April, due to lower prices more than offsetting higher quantities, following March’s much sharper 10.7% plunge.
Peru: Inflation at 20-month high in May
June 3, 2019
Consumer prices in Metropolitan Lima rose 0.15% over the previous month in May, down from April’s 0.20% month-on-month rise.
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