Publications

Economic activity accelerated in February to 3.7% year-on-year, led by non-primary GDP, with strong momentum in trade and construction. Year-to-date, GDP growth stands at 3.6%.

The article contrasts the Peruvian institutional instability with the solidity of the Central Reserve Bank under Julio Velarde. Given his possible succession, the urgency of preserving monetary autonomy and the technical training of its staff to avoid future crises is emphasized.

The Central Reserve Bank of Peru maintained the interest rate at 4.25%, in line with expectations. Despite the inflationary rebound in March caused by supply shocks, the institution projects that inflation will return to the target range by the end of this year amid positive growth prospects.

The Big Data Consumption Indicator showed a year-on-year expansion of 13.2 % in March, recording a slowdown compared to 18.7 % in February due to the lower momentum of pension fund withdrawals and price increases.

Inflation in Lima Metropolitana registered a historical increase of 2.38% month-over-month in March. This increase, the largest in 32 years, raised the year-over-year rate to 3.8%, surpassing the upper limit of the Central Bank's target range due to climate and energy factors.

The Central Bank increased the interest rate by 100 basis points to 11.25% due to persistent core inflation and high inflation expectations. The decision was divided with 4 members supporting the increase.

Colombia grew 2.6% in 2025, driven by domestic demand and remittances, but faces a growing fiscal deficit, rising inflation and weaker private investment. In a global environment shaped by geopolitical tensions and tariffs, the country needs fiscal adjustment and private investment to sustain its growth potential.