Peru Sees Rates Steady: Velarde

Peru Sees Rates Steady: Velarde

Peru's central bank does not yet see signs for a rate cut, despite a dramatic drop in commodity prices that may force authorities to revise down growth forecasts, its central bank governor Julio Velarde has told LatinFinance. "Of course we see a slowdown but the signs are still not there (for lowering rates)," he said. "This growth slowdown was expected, but I don't believe it will be more dramatic."Velarde's comments came amid mounting speculation that the central bank will move to slash rates to boost growth that is below market expectations. The sol meanwhile experienced its sharpest weekly decline in four years, sliding 1.7% by last Friday. The governor added that even though commodity

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