In Peru, the interest rates decisions are taken by the Board of Central Reserve Bank of Peru (Banco Central de Reserva del Perú BCRP). The official interest rate is the reference interest rate.
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Peru’s Central Reserve Bank left its benchmark rate unchanged at 4.25% in February 2026, holding steady for the third straight meeting, in line with expectations. The bank highlighted that January headline inflation rose to 1.7% (from 1.5% in December) with monthly inflation at 0.10%, while core inflation without food and energy increased to 2.0% (from 1.8%); twelve-month inflation expectations fell to 2.0% in January, comfortably within the target range. Policymakers also cited solid readings in current-conditions and expectations indicators, alongside a global backdrop of growth higher than previously expected and exceptionally favourable terms of trade. The BCRP reiterated that it will continue to monitor inflation dynamics, expectations, and economic activity, and stands ready to adjust policy as needed.
