Peru raises benchmark lending rate

Posted by admin on January 9, 2011 · Leave a Comment

January 7, 2011 4:42 am by Naomi Mapstone Financial Times

Amid strong inflows of “hot money” that have pushed the Nuevo Sol to a two-year high of about 2.8 per dollar, Peru’s central bank caught economists by surprise on Thursday night when it raised its benchmark lending rate to 3.25 per cent on inflation concerns arising from “international” price rises.