Peru central bank hikes again but signals new phase of moderation

  • Central bank increased its policy rate by 25bps as expected to 7%, its 15th consecutive rate increase

  • It brings the cumulative increase to date to 675bps since the bank's post-Covid tightening cycle began in August 2021

  • Slight change in statement's wording suggests bulk of tightening is over, opening door to new phase of fine tuning
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