Peru's central reserve bank votes to raise reference rate to 3½%

By Angela McDaniels

Tacoma, Wash., Feb. 11 - The board of Peru's Central Reserve Bank approved raising its monetary policy reference rate by 25 basis points to 3½% from 3¼%, according to a notice released by the bank.

The board said indicators continue to show a rapid growth in economic activity and that the rate increase is meant to be a preventive measure given the current growth of food and energy prices.

The inflation rate in January was 0.39%. As a result, annual inflation registered a rate of 2.2%. The inflation rate without food and energy was negative 0.05%, or 1.39% on an accumulated annual basis.

The next session of the board will be held March 10.

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