Andean Group - August 2012 (ISSN 1741-4466)

The Peruvian economy is still growing faster than expected, with monthly rates of over 6%. Taking this into consideration, the central bank (BCR) kept its key interest rate steady at 4.25% for the 15^th consecutive month on 9 August. The BCR’s president, Julio Velarde, said that despite some “mixed signals”, there are some important economic sectors, such as construction and imports, which continue to show that domestic demand remains strong. Velarde added that the current rate of growth, which in June posted at 6.47%, is close to what the bank considers to be the country’s long-term sustainable growth potential (6.4%).

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