Concerning its monetary policy, the
Central Reserve Bank (BCR) will maintain its benchmark interest rate at 2.75% in the meeting set to take place on August 8, privately-run Banco de Credito (BCP) has projected.
According to BCP, last week's events have increased local and international economic uncertainty.
Likewise, the banking entity pointed out Bloomberg's consensus is divided. Seven analysts —out of 13— believe the benchmark rate will be decreased by 25 basis points (bps), while the rest expect it will remain unchanged.
BCP also projects the decrease by 25 bps will take place in September or October 2019.
Furthermore, BCP's Department of Economic Studies believes BCR will join other central banks of emerging countries, which have already cut their interest rates such as India, Paraguay, Chile, Brazil, among others.
As is known, in July 2019, Metropolitan Lima's month-on-month inflation increased 0.20%, a figure lower than the one expected (0.26%).
Thus, the year-on-year inflation rate went from an annual 2.3% in June 2019 to an annual 2.1% in July, its lowest level since September 2018.
(END) MDV/DTK/MVB
Publicado: 7/8/2019