Peru: Central Bank leaves rate unchanged in October
October 10, 2013
The Central Bank decided to maintain the reference rate at 4.25% at its 10 October monetary policy meeting, in line with market expectations. The Bank has maintained the reference rate unchanged for the 29th consecutive month.
The Central Bank said that while economic growth is close to its long-term potential, inflation expectations are anchored within the Bank's target range (1% - 3%) as recent supply shocks that pushed consumer prices are reverting. The next meeting will take place on 7 November.
All the panelists expect monetary authorities to maintain the reference rate unchanged this year, with a year-end projection of 4.25%. For 2014, the panel expects the monetary policy rate to end the year at 4.30%.