Peru's central bank kept its reference interest rate on hold at 7.75 percent in its May 2023 meeting, as expected. The bank noted that the pause does not necessarily imply the end of the tightening cycle and future adjustments will be based on inflation evolutions. The country’s annual inflation rate decreased to 8.65% in March from 8.4% in February, remaining well above the upper limit of the target range. Meanwhile, the annual inflation rate excluding food and energy increased to 5.92% in March from 5.87% in February. A downward trend in year-on-year inflation is forecasted since March, with a return to the target range in the fourth quarter of 2023, due to moderated international food and fuel prices.
. source: Central Reserve Bank of Peru
Interest Rate in Peru averaged 3.60 percent from 2000 until 2023, reaching an all time high of 8.90 percent in January of 2001 and a record low of 0.25 percent in April of 2020. This page provides - Peru Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Peru Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.
Interest Rate in Peru is expected to be 7.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Peru Interest Rate is projected to trend around 4.50 percent in 2024, according to our econometric models.