Peru's central bank raises benchmark interest rate to 7.0%


Reuters | Lima | Updated: 07-10-2022 04:36 IST | Created: 07-10-2022 04:36 IST
Peru's central bank raises benchmark interest rate to 7.0%
  • Country:
  • Brazil

Peru's central bank increased its benchmark interest rate by 25 basis points to 7.0% on Thursday, the 15th consecutive hike, as monetary policymakers in the copper-producing Andean nation battle stubbornly high inflation.

The benchmark interest rate has now risen 675 basis points from a low of 0.25% in July 2021, as annual inflation accelerated to 8.53% in the year through September, far above the central bank's target of between 1% and 3% annually.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Give Feedback