Full PDF publication here: MNI Peru Central Bank Preview - Jan 2026.pdf
- Expectations are firmly tilted towards the BCRP holding the reference rate steady at 4.25% in January.
- Robust activity data and inflation data consistent with the 1-3% target range should keep additional policy easing as unwarranted at this juncture.
- Furthermore, analysts believe the policy rate will not be used an instrument to lean against recent PEN appreciation.