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Peru's central bank cut its benchmark rate by 25 basis points to 2.25%, its second cut this year after an August move. The bank said the decision did not necessarily signal further cuts and that it would watch inflation closely.
Inflation was 1.88% in October, and the bank expects it to stay near its 2% target.
Lower rates tend to weaken the sol against the dollar, which raises the cost of dollar-linked imports for Peruvian feed and livestock buyers. The bank's signal of no further cuts limits the chance of a larger currency move.
centralbanknews.infoNov 8, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
