FX.co ★ Peru Lowers Interest Rates to 5.75% in May 2024

In a recent move to stimulate economic growth, the Central Bank of Peru announced a reduction in interest rates from 6.00% to 5.75% in May 2024. This decision marks a shift from the previous indicator set in April 2024. The update, released on 9th May 2024, reflects the country's efforts to support businesses and consumers by making borrowing more affordable.

Lowering interest rates is a common tool used by central banks to encourage borrowing and spending, which can help stimulate economic activity. With the new rate in place, Peruvian businesses and individuals may find it more favorable to invest and make purchases, ultimately contributing to the country's economic recovery and growth. The Central Bank of Peru will likely continue to monitor economic conditions closely to determine future adjustments to interest rates as needed.