Peru’s Central Bank decided to hold its benchmark interest rate unchanged yesterday,
Thursday, for the first time in six months, keeping it at 4.50%. A rise of 25 basis points had been expected by economists to help cool domestic demand, which is driving Peru’s continued economic growth. GDP expanded by 6.8% in the first quarter of the year, compared with the same period in 2005. Internal demand rose by 9.9%, driven mainly by capital investment. Meantime, the rate of inflation in May declined for the first time since September last year, falling 0.53%. Annual inflation slowed to 2.2%, within the government’s target range of 1.5% to 3.5%.
Technorati Tags: Peru's Central Bank, Peru's Economy, Eduardo Bravo Losada, Accountants, CPAs
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