Friday, March 11, 2011

Peru's Central Bank Raises Interest Rate 25bps to 3.75%

The Banco Central de Reserva del Peru raised its reference interest rate by 25 basis points to 3.75% from 3.50% previously. The Bank noted that the move was largely preventative in nature, given rising food and energy prices globally. The Central Reserve Bank of Peru President Julio Velarde said the Peruvian economy is likely to grow 7% in 2011. Peru reported inflation at a five-month high of 2.23% in February, compared to the Bank's inflation target range of 1 percent to 3 percent.


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