Economics
Peru Lifts Key Interest Rate to 3.5% to Curb Inflation Surge
- Economy outperforming peers despite political turmoil
- Central banks across emerging markets are withdrawing stimulus
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Peru raised interest rates for a seventh straight month to try to damp the impact of the global inflation shock on the local economy.
The central bank increased its policy rate by half a percentage point to 3.5% late Thursday, in line with the forecasts of all 10 analysts surveyed by Bloomberg.