Economics
Peru Raises Rate for Third Month as CPI Rises to 4-Year High
- Currency's slide to lowest level since 2002 fuels price rises
- Economic growth is quickening on expanded mining production
This article is for subscribers only.
Peru increased borrowing costs for the fourth time in six months as a slumping currency exacerbates above-target inflation and economic growth rebounds.
Policy makers, led by central bank President Julio Velarde, raised the benchmark lending rate by a quarter point to 4.25 percent, as forecast by 13 of 16 economists surveyed by Bloomberg. Three analysts expected no change.