08:49 AM EST, 12/16/2024 (MT Newswires) -- The Board of Peru's central bank (BCRP) last week kept the reference interest rate at 5.00%, noted BBA Research.

BCRP expected both headline and core inflation to remain within the target range over the projection horizon, pointed out BBVA Research. It also states that economic activity was now around its potential level.

BBVA Research stated it anticipates two 25bp cuts to the reference rate before the end of Q2 2025, aligning it with the neutral rate at 4.5% in nominal terms. The timing of these cuts will largely depend on developments in financial markets.