Money in Peru
Peru - Money
Central Bank raises rates in July
At its 7 July meeting, the Central Bank of Peru raised its key policy interest rate by 50 basis points to 6.00%, bringing total hikes this year to 350 basis points.
The hike was driven by a desire to rein in rising inflation and inflation expectations, both of which are well above the 1.0–3.0% target range. While the Bank sees price pressures easing from July, inflation is only expected to move back into the target range between Q2 2023 and Q3 2023.
The Bank stated that it was prepared to take additional steps going forward to ensure that inflation returns to target. In line with this, our panelists expect multiple additional rate hikes by the end of the year. However, tightening is likely to be less marked than in H1, as inflation is projected to decline in H2 and the Central Bank could become more wary about the impact on economic activity.
Peru - Money Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Money (annual variation in %) | 2.0 | 11.5 | 13.0 | 8.9 | 9.1 |
Peru Money Chart
Source: Peru Central Bank and FocusEconomics calculations.
Peru Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.0 | -0.60 % | Nov 08 |
| Exchange Rate | 3.31 | -0.06 % | Jan 01 |
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Economic News
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Peru: Inflation inches down in July
August 8, 2022
Consumer prices increased 0.94% over the previous month in July, slowing from the 1.19% increase seen in June.
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Peru: Economic activity records slowest expansion since December 2021 in May
July 26, 2022
Economic activity expanded 2.3% year on year in May (April: +3.7% yoy).
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Peru: Inflation rises in June
July 7, 2022
Consumer prices increased 1.19% over the previous month in June, picking up from the 0.38% increase seen in May.
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Peru: Central Bank raises rates in July
July 7, 2022
At its 7 July meeting, the Central Bank of Peru raised its key policy interest rate by 50 basis points to 6.00%, bringing total hikes this year to 350 basis points. The hike was driven by a desire to rein in rising inflation and inflation expectations, both of which are well above the 1.0–3.0% target range.
-
Peru: Merchandise exports decrease in May
July 7, 2022
Merchandise exports declined 0.8% in annual terms in May (April: +11.9% year-on-year).
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