Peruvian interest rates rise for fifth consecutive month

Last night, the Central Reserve Bank of Peru (BCRP) hiked interest rates by 50bps to 3.0%, as expected. With the economy still growing at a red-hot pace, we expect rates to rise to 4.0% by year-end. But with concerns about a global slowdown likely to build, we then expect the BCRP to pause in 2011.

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