Moody's Investors Service
has affirmed that U.S. Federal Reserve's reference rate stability will reduce global uncertainty for Peru's monetary authorities.
The Federal Reserve (Fed)
decided to leave interest rates unchanged, and its officials are predicting the Fed will remain on hold for the remainder of the year due to a slowdown in U.S. growth.
Between 2017 and 2018, the Federal Reserve has raised interest rates seven times to a range of 2.25%-2.5%.
"In keeping with the effects on other large Latin American economies, U.S. rate stability will lessen a source of global uncertainty for Peru's monetary authorities," reads Moody's sector comment.
According to the document, Peru —as well as Chile— enjoys financial stability even during bouts of political malaise as a result of its position as a large exporter of mineral ores.
"Peru's policy rates have remained relatively low and steady over the past four years," the credit rating agency added.
In addition, it indicated that consumer price inflation
remains well within the target range, and the credit markets continue to expand gradually with economic growth.