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LatinNews Daily - 13 May 2022

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In brief: Peru hikes interest rates

* Peru’s central bank (BCRP) has raised the benchmark interest rate by 50 basis points to 5%, following its announcement that annual inflation in April climbed to 7.96% – up from 6.82% in March. Monthly inflation in April was 0.96%, down from 1.48% the previous month. In a statement, the BCRP said it expects annual inflation to begin falling from July, but that annual inflation is not expected to fall within the target range of 1-3% until Q2 or Q3 2023.