Peru Holds Benchmark Rate At 4.50%

As expected, Peru’s Central Bank held its benchmark interest rate at 4.50% Thursday. The Bank said it had decided to hold the rate unchanged due to the benign inflationary environment. Consumer prices fell last month by 0.28%, taking inflation for the 12 months through November to 1.54%, at the bottom end of the government target range. Meanwhile, economic activity – driven by domestic demand – grew 6.9% in October, said the Bank, taking growth for the first 10 months of the year through October to 7.4%.