Weekly Report - 24 July 2014 (WR-14-29)

PERU | Growth forecast cut. The central bank (BCRP) has revised down its economic growth forecast for the year from 5.5% to 4.4%. The new forecast is the lowest growth projection for the Peruvian economy since 2009, seemingly providing confirmation of a marked slowdown this year. In fact, this is the second time that the BCRP has cut its growth forecast for the year, having first done so back in May [WR-14-17].