LatinNews Daily - 24 October 2022

In brief: Peru’s central bank chief hints at end to monthly rate hikes

* The president of Peru’s central bank (BCRP), Julio Velarde, has indicated that regular hikes to the benchmark interest rate, which have been announced without exception each month since August 2021, are soon likely to cease. “We’ve increased the rate ten, fifteen times monthly,” Velarde said, noting that this had so far failed to bring inflation down to its target range of 1-3%. “We think that we’re near the limit,” he added, although he cautioned that future events could still necessitate monetary tightening by the BCRP.

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