Peru Keeps Rate at 2.75% to Bolster Copper-Fueled Rebound
- Growth has picked up this year but remains below potential
- Inflation continues to accelerate from March’s eight-year low
Julio Velarde Flores, president of the central bank of Peru.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
Peru kept borrowing costs at their lowest level in almost eight years to maintain stimulus to an economy undergoing an a broad recovery fueled by a rebound in mining investment.
The central bank board, led by bank President Julio Velarde, maintained the benchmark lending rate at 2.75 percent Thursday for a fourth consecutive month, matching the forecast of all 13 economists surveyed by Bloomberg.