Peru: Central Bank leaves rate unchanged in December
December 12, 2013
The Central Bank decided to maintain the reference rate at 4.00% at its 12 December monetary policy meeting; the decision was in line with market expectations. The next meeting will take place on 9 January 2014.
The Central Bank said that the economy has cooled down slightly in the previous months, mainly due to a decrease in exports. The Bank also stated that, inflation will be close to the upper bound of the Bank's target range (1%-3%) during the months ahead due to delayed supply effects and that it will stabilize around 2.0% afterwards.
All the panelists expect monetary authorities to maintain the reference rate unchanged this year, with a year-end projection of 4.00%. For 2014, the panel expects the monetary policy rate to end the year at 3.86%.