Friday, June 10, 2011

Peru Central Bank Pauses Monetary Policy Rate at 4.25%

The Central Reserve Bank of Peru maintained its monetary policy reference rate unchanged at 4.25%.  According to a Reuters translation the bank said: "This measure takes into account the moderation in consumer price increases and some indicators of production. Future adjustments in the benchmark interest rate are conditional on new information on inflation and its determinants."

The Bank last raised the monetary policy reference rate by 25 basis points to 4.25% in May this year.  Peru reported annual inflation of 3.07% in May (with core inflation of 2.8%) 3.34% in April, above the Bank's 1-3% inflation target.  The Bank's next Monetary Policy meeting will be held on the 7th of July 2011.


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