Peru Set to Cut Rates After Inflation Hits 2% Target.

BOARD of Governors of the Federal Reserve System (U.S.); RATE setting; PRICE inflation; INTEREST rates; PRICES; INFLATION targeting

Peru is expected to cut its benchmark interest rate for the third consecutive month after inflation dropped to the central bank's target last month. Economists predict a quarter-point reduction to 5.5%, although one analyst believes the rate will remain at 5.75%. Peru has already cut rates eight times since September, bringing it down from 7.75% to combat inflation and stimulate the economy. The country's inflation has decreased from nearly 9% in mid-2022, and while it is on a path to recovery, it is expected to experience low growth similar to other Latin American countries. [Extracted from the article]

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