Peru | Unsurprisingly, the central bank keeps once again the policy rate on hold

Summary

The Central Bank kept the policy rate at 3,50% in November. Transitorily subdued MoM inflationary pressures explained this decision. We do not expect this will last for long. We will probably see a rate hike soon on the back of higher inflationary pressures in the coming months arising from El Niño weather phenomenon and domestic currency depreciation.

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