Publications

The BCRP kept its policy rate at 4.25% in November, consolidating the pause initiated in October. This essentially neutral monetary policy stance is consistent with the benign outlook for prices and with economic activity around its potential.

The ECB kept rates unchanged and, with Lagarde’s slightly hawkish tone, reinforced the view that current levels likely mark the end of the cycle. The new projections point to more balanced risks, supported by the US–EU trade agreement.

The Board of the Banco de la República kept the policy rate unchanged at 9.5% in a split decision (4 to 3). The decision was based on inflationary and fiscal risks, as well as external uncertainty.

The ECB cuts interest rates by 25bp as inflation stays in line with expectations, but uncertainty increases ahead of April due to potential political moves in Europe and the US.

The Board of BanRep kept the policy rate unchanged at 9.5%. Notably, concerns persist regarding inflation, exchange rate volatility, and fiscal uncertainty.

The ECB adopted a relatively dovish stance today while implementing the widely expected rate cut, signaling the possibility of further reductions without committing to a specific terminal level. This approach aligns with the continued progress in disinflation and the subdued momentum of the Eurozone economy.

The Board of Banrep reduced its monetary policy rate by 50 bps, bringing it to 9.75%. This decision was split, with 4 members in favor of the 50 bp reduction and three members voting for a larger reduction of 75 bp. The balance reached at the last meeting remain unchanged.