* Peru’s central bank (BCRP) has reduced the benchmark interest rate by 100 basis points, from 2.25% to 1.25%. A BCRP statement noted that economic activity in Peru has been affected by “
a supply shock and the reduction of internal demand” as a result of the coronavirus (Covid-19) pandemic, and said the country has to prepare for “
the possibility of a global economic recession in the first half of the year”. The statement added that the bank’s board of directors are meeting frequently with the economy & finance ministry to implement measures to protect macro-financial stability, as well as productive activity and employment.
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