Credit Suisse investment banking analyst today estimated that Peru’s Central Reserve Bank (BCR) will leave its October’s monetary policy rate at 3.5 percent during the next monetary policy meeting.
According to Juan Lorenzo Maldonado, chief economist for Peru at Credit Suisse, Peru’s Central Reserve Bank will hold its monetary policy meeting on Thursday, October 9th.
“Our economists expect the rate to remain unchanged at 3.50%, and consider that a dovish tone in the policy statement could suggest the possibility of further rate cuts in the short term, depending on the issuing entity’s report on monetary policy,” he said.
Maldonado pointed out the central bank has published a monthly survey on macroeconomic expectations for September 2014 that reveals expectations regarding the economy in the next three months improved to 54% from 48%.
He also highlighted the increased economy expectations for the next 12 months, which improved to 64% from 60%. The investors’ confidence index, however, fell to 56% from 58%.