* Peru’s central bank (BCRP) has raised the country’s benchmark interest rate by 50 basis points to 3.50%, in its seventh consecutive monthly rate hike. In a statement, the BCRP explained that interest rates were raised in response to the 5.68% annual inflation recorded in January, which caused the bank to increase its inflation forecast for 2022 to 3.73%, up from the previous prediction of 3.68%. The statement added that
“in January, most indicators for economic forecasting continued on a negative trajectory,
” noting that
“financial markets have continued to show volatility… and the BCRP’s actions are aimed at attenuating those volatilities.” End of preview - This article contains approximately 104 words.
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