LatinNews Daily - 11 November 2022

In brief: Peru raises interest rates

* Peru’s central bank (BCRP) has raised its benchmark interest rate by 25 basis points to 7.25%, in response to continued high inflation. In a statement explaining the rate hike, the BCRP noted that, whilst annual inflation decreased from 8.53% in September to 8.28% in October, this remains significantly higher than the bank’s target range of 1-3%. More broadly, the BCRP noted that “most of the forecasts and expectations about the economy remain pessimistic”.

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