Peru Surprises, Keeps Lowest Rate Among Big Regional Peers
- Central bank left benchmark interest rate unchanged at 5.25%
- Inflation cooled more than expected in September to 1.78%
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Peru surprisingly held its benchmark interest rate unchanged Thursday as the economy grows above expectations and borrowing costs already rank as the lowest among Latin America’s major economies.
The central bank held its benchmark rate at 5.25%, which last month marked a two-year low, as forecast by just two of 12 analysts surveyed by Bloomberg. Five of the bank’s last eight rate decision have been unexpected.