The Central Reserve Bank of Peru raised its benchmark lending rate by 25 basis points to 3.50% as a preventative move against inflation. Peru saw inflation of 0.39% from December in January 2011, putting the year on year rate at 2.17%, versus the official inflation target of 1% to 3%. Peru faces upside inflation risks due to rising global food and energy commodity prices, as well as a relatively strong rate of growth in domestic economic activity.
www.CentralBankNews.info
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