Peru's central bank surprises with smaller-than-expected rate increase

  • The BCRP increases its policy rate again but this time by a lower-than-expected 25bps, to 6.75%

  • It's the 14th consecutive rate increase in this cycle, but the 25bps move ends the pattern of 12 consecutive 50bps hikes

  • The decision comes after the recent fall in inflation and may signal the tightening cycle is coming to an end
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