* Peru’s central bank (BCRP) has held the benchmark interest at 7.75% for the third consecutive month. The decision followed an acceleration of monthly inflation in March, which rose to 1.25% – up from 0.29% in February. The annual inflation rate declined to 8.40%, down from 8.65% in February. A BCRP statement said that “the downwards trajectory of annual inflation is expected to continue in the coming months with a return to the target range [1-3%] in the fourth quarter of this year, due to the moderation of the impact of international food and energy prices [and] the reversal of supply shocks in the agricultural sector”.
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LatinNews Daily - 14 April 2023
In brief: Peru holds interest rates for third consecutive month
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