Published on Friday, August 14, 2020

Peru | August monetary policy meeting with no relevant news

The Central Bank kept in August the policy rate at 0,25%, renewed its commitment to maintain a very ease stance for a prolonged period of time, and underlined its efforts to provide liquidity to the market.

Key points

  • Key points:
  • The monetary authority expects the recent YoY headline inflation hike to be transitory so that in what rests of 2020 and in 2021 it would dip below the target range.
  • Our baseline scenario considers the policy rate would remain at its current 0,25% level at least until the end of 2021 due to the negative impact of the health crisis on economic activity.
  • We do not rule out additional non-conventional measures to further expand the monetary stimulus or foster the transmission of the current low level of the policy rate to the financial system’s interest rates.

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