Peru cuts interest rate as recession persists

STORY: Peru cuts interest rate as recession persists SHOOTING TIME: File DATELINE: Nov. 11, 2023 LENGTH: 00:03:39 LOCATION: Lima CATEGORY: ECONOMY SHOTLIST: 1. various of Lima STORYLINE: In its November decision, the Board of Directors of the Central Reserve Bank of Peru (BCRP) decided to reduce the reference rate to 7.00 percent, a 25 basis point decrease. The monetary authority said that this decision does not necessarily imply a sequence of interest rate reductions. The bank's third consecutive cut came as the rate of rising consumer prices has been coming down. According to official data, Peru's annual inflation decelerated to 4.34 percent to reach its lowest level in over two years. The BCRP Board's next monetary policy session will take place on Dec. 14. Xinhua News Agency correspondents reporting from Lima. (XHTV)