Peru's Central Reserve Bank lifts its reference rate by 25 bps to 4%

By Susanna Moon

Chicago, April 8 - The board of Peru's Central Reserve Bank said it decided to raise the monetary policy reference rate by 25 basis points to 4%.

The bank also raised the rate by 25 bps to 3½% in February and by 25 bps to 3¾% in March.

The board said in a March 11 news release that the action was mainly preventative due to rising international food and energy prices.

The release added that this measure was 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%.

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