In Peru, the interest rates decisions are taken by the Board of Central Reserve Bank of Peru (Banco Central de Reserva del Perú BCRP). The official interest rate is the reference interest rate.
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Peru’s Central Reserve Bank left its benchmark rate unchanged at 4.25% in January 2026, holding steady for the third straight meeting, in line with expectations. The bank highlighted that December headline inflation rose to 1.5% (from 1.4% in November) with monthly inflation at 0.24%, while core inflation without food and energy remained at 1.8%; twelve-month inflation expectations fell to 2.1% in December, comfortably within the target range. Policymakers also cited solid readings in current-conditions and expectations indicators, alongside a global backdrop of moderate growth. The BCRP reiterated that it will continue to monitor inflation dynamics, expectations, and economic activity, and stands ready to adjust policy as needed.
