Peru

Restrictive

Policy rate

4.25%

Last move Sep 2025

Inflation

1.53%

As of null

Real policy rate

2.72%

Policy rate less inflation

Debt to GDP

30.00%

2026 est.

Inflation target2%

Policy rate vs target+2.25 pp

Last move-25 bps cut

Months at current rate12

Real GDP growth2.80%

Next scheduled decisionNot published

Policy rate path, latest five years. Cycle peak 7.75% (Jan 2023).

The verdict

Peru sets its policy rate at 4.25%, against inflation of 1.53% — a real rate of 2.72% after inflation. The most recent decision was a 25bp cut in Sep 2025. The rate has held there for about 12 months. The bank targets 2% inflation, and prices are running below that at 1.53%; the policy rate stands 2.25 percentage points above target. On the fiscal side, the economy carries government debt of 30.0% of GDP (2026 est.) and real GDP growth of 2.8%.

Sources: policy rate and cycle history — BIS central bank policy rates (WS_CBPOL); inflation — national statistical agencies; debt and growth — IMF World Economic Outlook. Methodology: https://www.globalfinancialinfo.info/methodology/policy-rates · Dataset: https://www.globalfinancialinfo.info/global-economy · Free to print and share for non-commercial classroom use (CC BY-NC-ND 4.0).

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