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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
948 x 535 px AdobeStock_433552847
Economic Updates
Monthly Economic Update: Fed cuts incoming   
June 30, 2025 DOWNLOAD
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
Two people discussing a chart on a tablet
Economic Updates
Policy Rate Update: Dovish BSP Narrows IRD 
June 19, 2025 DOWNLOAD
View all Reports
Economy 1 MIN READ

UPDATE 1-Peru’s central bank hikes interest rate to 5% to tackle inflation

May 12, 2022By Reuters
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Adds context and central bank comments

LIMA, May 12 (Reuters) – Peru’s central bank raised the country’s benchmark interest rate by 50 basis points to 5% on Thursday, the tenth consecutive hike, as authorities in the copper-producing Andean nation battle spiraling inflation.

The 5% rate was in line with the expectations of a Reuters poll of analysts and is the country’s highest since April 2009.

Peru’s annual inflation rate hit 7.96% in April, its highest level in 24 years, amid local protests over rising food and energy costs. nL2N2WT0CJ

The bank restated last month’s guidance, saying it expects inflation to begin to fall in July, and “inflation would return to the target range between the second and third quarters of next year.”

Protests over rising costs are part of a wave of social unrest facing the increasingly unpopular President Pedro Castillo, who last month deployed the armed forces in response to a series of road blockades.

(Reporting by Marcelo Rochabrun and Marco Aquino in Lima; Valentine Hilaire and Brendan O’Boyle in Mexico City; Editing by Sandra Maler and Chris Reese)

((Valentine.Hilaire@thomsonreuters.com;))

This article originally appeared on reuters.com

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