Peru's central bank maintains reference interest rate at 4¼%

By Angela McDaniels

Tacoma, Wash., Nov. 14 - The board of Peru's Central Reserve Bank left the monetary policy reference rate unchanged at 4¼%, according to a bank news release.

The board said the decision takes into account the lower growth being recorded by some current and advanced indicators of activity and the intensification of international financial risks.

In October, the monthly rate of inflation was 0.31% and the annual rate was 4.2%. The monthly and annual rates of core inflation were 0.28% and 3.5%, respectively. The rate of inflation excluding food and energy was 0.11% on a monthly basis and 2.3% on an annual basis.

The board also maintained the overnight deposit rate at 3.45%, the direct repo and rediscount operations rate at 5.05% and the swap rate at a commission equal to a minimum annual effective cost of 5.05%.

The board increased the reference rate to 4¼% from 4% in May and has kept it there since.

The board will approve the monetary program for December during its session on Dec. 7.

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