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Peru in no rush to cut rates despite slowing economy

Peru’s central bank (BCRP) extended its long pause on interest rates last night and gave few hints that a change of policy is on the cards. Following a recent downgrade to the BCRP’s 2013 growth forecast, the Bank has now come into line with our own relatively bearish view. But while this might suggest that support for monetary easing is beginning to build, we suspect that rate cuts are still some way off.

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