Peru's Central Reserve Bank lifts reference rate 25 bps to 3¾%

By Jennifer Chiou

New York, March 11 - The board of Peru's Central Reserve Bank approved raising its monetary policy reference rate by 25 basis points to 3¾%, according to a notice released by the bank.

The board noted that this action was mainly preventative due to rising international food and energy prices.

A month ago, the rate was increased by 25 bps from 3¼%.

The release added that this measure is aimed at offsetting the potential impact of supply factors on inflation expectations in a context of domestic demand growth. Inflation in February came in at 0.38%, resulting in an annual inflation rate of 2.23%.

The next session of the board will be held on April 7.

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