Weekly Report - 28 August 2014 (WR-14-34)

PERU | Growth forecast cut again. On 20 August Peru’s central bank (BCRP) announced it was cutting its growth forecast for the year from 4.4% to 4%. This is the second time that the BCRP has cut its growth forecast rate this year after previously having done so in April. The decision confirms that the slowdown in domestic economic activity in Peru this year continues despite the economic stimulus packages designed to boost domestic investment levels implemented by the government led by President Ollanta Humala and the BCRP’s adoption of an expansionary monetary policy.