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LatinNews Regional Monitor: Andean Group - 12 January 2018

In brief: Peru

Peru: The central bank (BCRP) has released its latest inflation figures which show this was 1.36% at the end of 2017 – within the BCRP’s 1%-3% target range and the lowest inflation rate recorded in the country for the last eight years. The BCRP also announced it was lowering its benchmark interest rate to 3% from 3.25%, citing disappointing government spending in the fourth quarter (without providing figures) and weak economic growth. The BCRP cites experts as forecasting GDP growth will close at between 2.6% and 2.9% in 2017, with projections that this could rise to 3.5%-3.8% in 2018.