Thursday, August 13, 2015

Peru maintains rate as inflation expectations rise

    Peru's central bank left its monetary policy interest rate unchanged and 3.25 percent, saying inflation expectations have increased to the top of its target range but it's board is aware of these projections and will, if neeeded, adjust its reference rate to ensure inflation returns to its target range.
    The Central Reserve Bank of Peru, which has held its rate steady since cutting it by 25 basis points in January, added that economic activity is recovering but remains below its potential.
    Peru's inflation rate rose slightly to 3.56 percent in July from 3.54 percent in June, above the central bank's target range of 2.0 percent, plus/minus 1 percentage point.
    Peru's sol currency has been depreciating since mid-2014 when and was trading at 3.23 to the U.S. dollar today, down 7.4 percent this year, and down from 3.20 percent last week.


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