The Central Reserve Bank of Peru (BCRP) maintained the base interest rate at 7.75%. In a statement, the institution highlighted that the pause in monetary tightening “does not necessarily imply the end of the cycle of high interest rates” and stated that future adjustments are conditioned to new data on inflation, macroeconomic effects and recent social events.
According to the BCRP, the consumer price index (CPI) and its core – which excludes food and energy – both remain well above the limit set as a target by the central bank.
In a note, the Board of the Peruvian BC reaffirmed its commitment to reducing prices, guaranteeing that it will “adopt the necessary actions” to ensure the return of inflation to the target.
The bank also notes that most indicators and projections for the Peruvian economy deteriorated in January and remain pessimistic.
In recent months, Peru has faced a political crisis and waves of protests since the removal of President Pedro Castillo in December, which have affected the trade and export of commodities.
The next monetary meeting should take place on March 9th.
Source: CNN Brasil
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