* Peru’s central bank (BCRP) has lowered its benchmark interest rate by 25 basis points to 7.25%. This follows a previous lowering of the rate to 7.5% in September, which came after seven consecutive months in which it was held at 7.75%. However, the BCRP stressed that the latest lowering “does not necessarily imply a cycle of successive reductions in the interest rate,” emphasising that monetary policy decisions will be based on inflation data. It noted that annual inflation in September was 5.0%, down from 5.6% in August. However, this remains above the BCRP’s target range of 1-3%, which it predicted would be reached in early 2024.
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