The Central Reserve Bank of Peru left its interest rate unchanged at its September meeting. Annual inflation reached 4.4% in August and twelve-month inflation expectations rose to 3.1%. The rate has stood at 4.25% since September 2025. The bank is monitoring oil-price volatility and geopolitical uncertainty while noting that the terms of trade still favor Peru.
The Central Reserve Bank of Peru held its reference rate at 4.25% at its September meeting. The rate has been unchanged since September 2025. The decision followed the bank's assessment of inflation data and expectations. It says it remains attentive to incoming information when reviewing its policy stance. The statement records an unchanged September rate without committing to the direction of the next move.[1], [2]
Consumer prices rose 0.07% in August. Annual inflation increased from 4.1% in July to 4.4%, while twelve-month inflation expectations stood at 3.1%, slightly above the target range. In the bank's assessment, earlier increases in fuel prices and transport costs continue to affect prices. Its decision considers these recorded inflation figures alongside expectations about future price changes.[1]
The bank describes global risks as elevated, pointing to oil-price and financial-market volatility alongside Middle East tensions. It also says the terms of trade continue to favor Peru. That measure compares export prices with import prices. Higher metal prices support the ratio for copper-exporting Peru. The statement considers that favorable trading condition alongside the international uncertainty that remains in place.[1]
