Economy / Peru
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More Work Ahead For The BCRP
September 2008 | Economic AnalysisSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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Notwithstanding the decline in global commodity prices and slowing money supply growth in Peru, inflation will remain high on the Banco Central de Reserva del Perú (BCRP)'s agenda for some time to come. Although the central bank has managed to tighten monetary conditions in recent months, we note that more aggressive interest rate hikes may be needed to have a decisive impact on inflation. We currently forecast two more 25 basis point interest rate hikes this year.