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Peru Lifts Key Rate to 2.5% as Economy Grows Most in Region

  • Annual inflation reached a 12-year high of 5.8% in October
  • Economy forecast to grow the most in Latin America this year
Updated on

Peru raised interest rates for a fifth straight month as the economy grows at the fastest pace in Latin America and inflation exceeds the upper limit of its target range. 

The central bank lifted its key interest rate by half a percentage point to 2.5%, in line with the forecasts of all nine economists surveyed by Bloomberg. The move unwound all the rate cuts implemented after the pandemic hit last year.