Central Bank decision: At its meeting in mid-April, the National Bank of Ukraine (NBU) decided to leave its key policy...
Policy Interest Rate in Peru
The Monetary Policy Rate ended 2022 at 7.50%, up from the 2.50% end-2021 value and up from the reading of 4.00% a decade earlier. For reference, the average Monetary Policy Rate in Latin America was 18.90% at end-2022. For more interest rate information, visit our dedicated page.
Peru Interest Rate Chart
Note: This chart displays Policy Interest Rate (%) for Peru from 2014 to 2024.
Source: Macrobond.
Peru Interest Rate Data
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Monetary Policy Rate (%, eop) | 2.25 | 0.25 | 2.50 | 7.50 | 6.75 |
Central Bank of Peru leaves rates unchanged in April
Latest bank decision: At its meeting on 10 April, the Central Bank of Peru (BCRP) decided to maintain the reference interest rate at 4.75%.
Monetary policy drivers: The BCRP likely decided to stay put to evaluate the impact of the significant monetary easing over the last 18 months, and in light of elevated external uncertainty amid a brewing global trade war. Moreover, with inflation comfortably within the Bank’s 1.0-3.0% target range and the domestic economy performing well, there was no pressure to change rates in either direction.
Rate cuts expected to resume: Forward guidance was open-ended. Almost all of our panelists see further rate cuts between now and end-2025, with forecasts ranging from 25 to 125 basis points of cuts.
Panelist insight: On the outlook, Goldman Sachs’ Santiago Tellez said: “We remain comfortable with our view that the MPC will deliver at least another 25bp cut to 4.5% in Q2 considering the benign inflation outlook. That said, we are now more open to the possibility of further preemptive easing in H2 ahead of the potential deterioration activity, due to the increasing sensitivity of Peru’s growth outlook to global conditions. The materialization of these cuts may be constrained by the volatile external backdrop.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Peruvian interest rate projections for the next ten years from a panel of 25 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Peruvian interest rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Peruvian interest rate projections.
Want to get access to the full dataset of Peruvian interest rate forecasts? Send an email to info@focus-economics.com.
Latest Global Monetary Policy News
-
Ukraine: National Bank of Ukraine keeps policy rate steady in April -
Korea: Central Bank leaves rates unchanged in April Latest bank decision: At its meeting on 17 April, the Central Bank decided to leave the base rate unchanged at... -
Canada: Bank of Canada keeps rates steady in April Latest bank decision: At its meeting on 16 April, the Bank of Canada kept its target for the overnight rate... -
Kazakhstan: Central Bank holds rates in April NBK stands pat as expected: At its meeting on 11 April, the National Bank of Kazakhstan (NBK) decided to maintain... -
Serbia: National Bank of Serbia stands pat in April Central Bank remains on hold: At its meeting on 10 April, the National Bank of Serbia (NBS) executive board kept... -
Peru: Central Bank of Peru leaves rates unchanged in April Latest bank decision: At its meeting on 10 April, the Central Bank of Peru (BCRP) decided to maintain the reference... -
Costa Rica: Central Bank leaves rates unchanged in April BCCR stays on hold: At its meeting on 10 April, the Central Bank of Costa Rica (BCCR) unanimously decided to...