Datasets:
gtfintechlab
/
central_reserve_bank_of_peru

Dataset card Data Studio Files
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measures of inflationary trend are within the target range and are projected to continue to decline in the coming months; ii expectations of inflation in 12 months time continued to decrease, standing at 2.7 percent in august; iii the pace of growth of domestic economic activity continues to be below its potential growth level
dovish
forward looking
certain
2,017
157
bcrp reduced the reference rate to 5.25 the board of directors of the central reserve bank of peru bcrp agreed to reduce the reference rate by 25 basis points to 5.25 percent
dovish
not forward looking
certain
2,024
269
the monetary program for november will be approved on the boards session of november 8,
irrelevant
forward looking
certain
2,012
336
inflation is expected to return to the target range in the fourth quarter of the year, as transitory pressures exchange rate and international fuel and grain prices recede, with economic activity below potential
dovish
forward looking
uncertain
2,022
586
during most of the month downward pressures on the nominal exchange rate were observed; however, during the last 2 days, upward pressures were registered, so the exchange rate closed february in 3.30 per dollar
hawkish
not forward looking
certain
2,006
908
the significant and continuous increase in international energy and food prices since the second half of last year, accentuated by international conflicts, has led to a sharp increase in global inflation in magnitudes not seen in many years both in advanced and other economies in the region
hawkish
not forward looking
certain
2,022
14
the board will approve the monetary program for july on its session of july
irrelevant
forward looking
certain
2,008
582
this decision is consistent with an inflation forecast in which inflation converges to the target range by mid-2017 and takes into account the following factors i expectations of inflation in 12 months remain within the target range and continue showing a declining path; ii the farming cycle has been negatively affected by the water deficit, its impact being expected to be transitory; iii the pace of growth of domestic economic activity has slowed down in the last quarter of 2016 in a context of lower public expenditure
dovish
not forward looking
certain
2,017
293
if the tendency observed in the economic activity is maintained, it would be expected that the gdp growth rates in 2005 and 2006 be around 5 percent
neutral
forward looking
uncertain
2,005
34
between june and july, year-on-year inflation decreased from 2.3 to 2.1 percent, within the target range, while year-on-year core inflation declined from 3.1 percent in june to 3.0 percent in july, at the upper limit of the target range
dovish
not forward looking
certain
2,024
706
the of core inflation a trend indicator of price increases was 0.15 percent in december, as a result of which last-12-month core inflation has increased from 1.23 percent in 2004 and 2005 to 1.4 percent in the last-12-month inflation rate is expected to remain below the lower band of the inflation target 1.5 percent in the first part of 2007 due to the reversal of the price rises of some food products observed in the first four months of 2006, as these factors have a one-time impact on inflation and therefore require no particular monetary policy measures to address them
neutral
forward looking
certain
2,007
326
however, the underlying inflation, which exclude high volatility items from the cpi basket, increased 0,1 percent in march and 1,7 percent through last 12 months
hawkish
not forward looking
certain
2,003
886
however, volatility in financial markets persists, primarily driven by uncertainties regarding the rhythm of interest rate reduction in advanced economies
hawkish
not forward looking
certain
2,024
682
according to recent inflation and economic activity indicators monthly inflation was 0.01 percent in september, bringing down year-on-year inflation to 1.85 percent, from 2.04 percent in august
dovish
not forward looking
certain
2,019
931
the interbank interest rate was 2.41 percent in january, lower than in december 2.51 percent
neutral
not forward looking
certain
2,004
181
the interest rates for central banks operations in dollars are monetary regulation credits 1-month libor plus one percentage point overnight deposits an interest rate equivalent to the rate for similar bcrps deposits held abroad swaps, the commission that implies a minimum annual effective cost of 3.25 percent is maintained may monetary program will be approved in the board of directors meeting of may 6, lima, april 1, 2004
neutral
forward looking
certain
2,004
80
however, the board expressed concerns about the possible inflationary impact that a growth of domestic demand exceeding the rates forecast by the bank might have in a 12-18 time horizon
hawkish
forward looking
uncertain
2,007
497
rate central bank maintains reference rate at 4.50 the board of the bcrp acknowledge the following information the consumer price index of metropolitan lima cpi decreased 0.5 percent in may
dovish
not forward looking
certain
2,006
63
as reflected in the surveys carried out with economic analysts and financial entities at the end of august, the inflation rate this year is expected to be 2.5 percent
neutral
forward looking
certain
2,007
79
this decision has been made taking into account the following considerations the dynamism of economic activity for 2006 5.0 percent is consistent with the continuous accomplishment of the inflation target between 1.5 and 3.5 percent
neutral
not forward looking
certain
2,006
406
bcrp lowered reference rate to 2.25 the board of directors of the central reserve bank of peru bcrp decided to cut the reference rate from 2.50 to 2.25 percent, in light of the following developments year-on-year inflation is expected to remain within the target range close to 2.0 percent over the forecast horizon, with a downside bias due to the possibility of a lower-than expected increase in domestic demand
dovish
not forward looking
certain
2,019
786
the interest rates for the following operations in dollars between the central bank and the financial system are established as follows rediscount operations 1-month libor plus one percentage point
neutral
not forward looking
certain
2,006
311
in this decision it has been considered the metropolitan lima consumer price index cpi increased 0,26 percent in june
hawkish
not forward looking
certain
2,005
986
in april, the balance was 123 million, within the range 120 - 130 million
neutral
not forward looking
certain
2,001
821
the previous framework is consistent with the current annual inflation forecast 2,5 percent with a 1 percentage point
neutral
not forward looking
certain
2,002
33
all domestic demand components show high rates of growth, particularly private consumption and investment which are estimated to have grown 5.8 percent and 19.7 percent respectively as a result of a favorable context marked by high consumers and business confidence
hawkish
not forward looking
certain
2,006
296
this higher level is explained by the new methodology that is being used to calculate this indicator since september 29, and now includes bonds involving a longer maturity in the basket
neutral
not forward looking
certain
2,006
62
the latter cost was 8,5 percent
irrelevant
not forward looking
certain
2,001
211
the board also decided to maintain the following interest rates on its window facility operations in domestic currency with financial entities overnight deposits 5.25 percent per year
neutral
not forward looking
certain
2,023
339
inflation is expected to remain within the target range throughout 2021 and 2022; and to lie at the lower part of the range by the end of 2022, as economic activity will remain below its potential level
dovish
forward looking
uncertain
2,021
542
the new level of the reference rate is compatible with an inflation forecast of 2.0 percent in the 2014-2015 forecast horizon and also takes into account that i economic growth in the country is slowing down to rates below the economys potential level of growth; ii recent indicators show a lower growth in the world economy; iii inflation expectations have declined and remain anchored within the target range, and iv the supply factors that affected inflation transitorily are reversing
dovish
forward looking
certain
2,013
56
the monetary program for the month of june will be approved on the board meeting to be held on june 13, lima, may 9, 2019
irrelevant
forward looking
certain
2,019
396
year-on-year inflation rose from 1.72 percent in april to 1.78 percent in may, while inflation excluding food and energy prices fell from 1.87 percent to 1.85 percent
hawkish
not forward looking
certain
2,020
768
this preventive measure is taken considering the lags with which monetary policy operates in order to continue maintaining expectations of low inflation anchored, in view of the robust growth shown by domestic demand in a context market by an increase in the price of imported inputs
hawkish
forward looking
certain
2,007
628
inflation in may showed a rate of -0.04 percent, as a result of which accumulated inflation in the last 12 months declined for the sixth consecutive month
dovish
not forward looking
certain
2,009
764
bcrp international overnight deposits interest rate abroad
neutral
not forward looking
certain
2,002
545
this decision is based on the following factors i economic growth in the country is close to the economys potential level of growth; ii inflation expectations remain anchored within the target range; iii the supply factors that affected inflation are reversing, and iv international financial conditions are still uncertain, even though recent indicators of global activity show some recovery
neutral
not forward looking
uncertain
2,013
340
inflation is projected to remain around the lower band of the target range in the first months of 2018 and to converge thereafter to 2.0 percent
neutral
forward looking
uncertain
2,018
742
the board continues to oversee the evolution of inflation and its determinants, both domestic and external, distinguishing the factors with temporary impacts from those with permanent effects
neutral
forward looking
uncertain
2,008
30
firms growth expectations continued to recover in june, in line with gradual economic reopening, although they remain at historic lows
dovish
forward looking
uncertain
2,020
657
most indicators of business expectations deteriorated in march, although they continue to be on the optimistic side
dovish
forward looking
certain
2,018
241
the board will approve the monetary program for july on its meeting of july 12,
irrelevant
forward looking
certain
2,018
324
should expectations about inflation increase or should domestic demand grow at a faster pace than productive capacity and productivity, the bank will make any necessary preventive adjustments in the reference interest rate
hawkish
forward looking
certain
2,007
725
the nuevo sol appreciated 0.63 percent against the dollar in november and 6.4 year-to-date
hawkish
not forward looking
certain
2,007
449
the board also approved to reduce the following annual interest rates on active and passive operations in domestic currency not included in auctions between the bcrp and the financial system as described below direct repo and rediscount operations 2.05 percent
dovish
not forward looking
certain
2,009
407
the board will approve the monetary program for june on its meeting of june 8, lima, may 11, 2017
irrelevant
forward looking
certain
2,017
53
for overnight deposits held by banks at the central bank, the rate is equivalent to the average obtained by the central bank for similar deposits abroad
irrelevant
not forward looking
certain
2,001
200
bcrp maintained reference rate at 0.25 the board of directors of the central reserve bank of peru bcrp decided to continue its expansionary policy stance, maintaining the reference rate at 0.25 percent and implementing further liquidity injection operations, in light of the following developments inflation in 2020 and 2021 is expected to fall below the target range due to a significant weakening of domestic demand
dovish
not forward looking
certain
2,020
97
annual inflation excluding food and energy recorded 1.23 percent in november
neutral
not forward looking
certain
2,010
150
moreover, trend inflation measurements show levels close to the midpoint of the target range; ii
neutral
not forward looking
certain
2,018
194
central bank kept reference interest rate at 3.00 as of december 2004, the cumulative year inflation was 3.48 percent, thus achieving the annual inflation target for the third consecutive year, as the inflation was located inside the target range 2.5 percent with a rank of tolerance of a percentage point up or downward
neutral
not forward looking
certain
2,005
747
inflation in february showed a rate of -0.09 percent, which reflected mainly the drop in food prices
dovish
not forward looking
certain
2,013
310
the board will approve the monetary program for the next month on its session of november 5
irrelevant
forward looking
certain
2,009
7
the evolution of export prices would continue being favorable
hawkish
not forward looking
certain
2,005
805
the board has taken this decision considering that i inflation expectations continue to reverse gradually; ii the effects of the rise in the prices of some food products and utilities as well as the effects of the exchange rate on inflation have been reversing; iii local economic activity has been showing a pace of growth close to its potential growth level, and iv the global economy continues showing mixed signals of recovery in terms of production and employment, as well as lower volatility in financial markets
dovish
not forward looking
certain
2,016
390
this rate implied a reduction with respect to the rate ruling since january 4 12,5 percent
dovish
not forward looking
certain
2,001
245
risks to global economic activity have materialized, including a global recession this year
dovish
forward looking
uncertain
2,020
18
global economic activity is recovering gradually during the second half of the year, but remains below last years levels
dovish
not forward looking
certain
2,020
341
most indicators of expectations for economic activity improved in october, although a few remain in pessimistic territory
dovish
forward looking
certain
2,021
286
this decision is based on the fact that inflations deviation from the target has reflected temporary factors on the side of supply in a domestic context characterized by an economic pace of growth close to the economys potential rate of growth and in an external context still characterized by high uncertainty
neutral
not forward looking
uncertain
2,012
461
the board of the central bank also approved to lower the annual interest rates on lending and deposit operations in domestic currency not included in auctions between the bcrp and the financial system, as specified below overnight deposits 2.05 percent
dovish
not forward looking
certain
2,015
656
with this, annual inflation increased to 1.64 percent
neutral
not forward looking
certain
2,010
363
on the other hand, the yield of the peruvian sovereign bond with a 20-year-maturity in domestic currency decreased for the fourth consecutive month, falling from 7.5 to 7.4 percent in september
dovish
not forward looking
certain
2,006
940
the evolution of the trade balance and terms of trade continues to be positive
hawkish
not forward looking
certain
2,006
649
the board continues to oversee the projection of inflation and its determinants and stands ready to adopt future adjustments in monetary policy instruments on a prompt and timely basis
neutral
forward looking
uncertain
2,012
15
inflation excluding food and energy showed a rate of 0.41 percent in december and accumulated an annual rate of 2.42 percent, lower rate compared with previous months 2.48 percent
dovish
not forward looking
certain
2,012
342
for november, the forecasted range for the daily average balance of banks deposits held at bcrp is 200 - 220 million
neutral
not forward looking
uncertain
2,004
798
the board will approve the monetary program for novermber on november 10
irrelevant
forward looking
certain
2,016
873
a downward trend in year-on-year inflation is forecast since march, with a return to the target range in the fourth quarter of this year, due to a moderation of the impact of international food and fuel prices, a reversal of agricultural supply shocks, and declining inflation expectations in the rest of the year
dovish
forward looking
certain
2,023
123
bcrp reduced the reference rate to 6.50 the board of directors of the central reserve bank of peru bcrp agreed to reduce the reference rate by 25 bps to 6.50 percent
dovish
not forward looking
certain
2,024
906
inflation in october showed a rate of 0.04 percent 3.04 percent in the last 12 months
neutral
not forward looking
certain
2,013
722
in november, the bcrp has continued lowering the reserve requirement rate in domestic currency from 10.5 to 10.0 percent with the aim of supporting the growth of credit in soles
dovish
not forward looking
certain
2,014
110
core inflation showed a rate of 0.87 percent 3.48 percent in the last 12 months and inflation without food and energy showed a rate of 0.95 percent 2.59 percent in the last 12 months
neutral
not forward looking
certain
2,013
31
it should be noted that this range was revised downwards from 130 - 140 million as a consequence of the uncertainty and turmoil in financial markets associated with external and domestic events
dovish
not forward looking
certain
2,001
664
inflation in november showed a monthly rate of -0.14 percent, a similar rate to the one registered in september -0.16 percent, which reflected the reversal of the prices of perishable food products
dovish
not forward looking
certain
2,012
720
however, a slight temporary rise in year-on-year inflation is anticipated in the final two months of this year due to base effects
hawkish
forward looking
uncertain
2,024
521
current and advanced indicators of activity continue to show a weaker economic cycle than the one expected, with lower gdp growth rates than the potential output due mainly to the lower dynamism observed in investment and exports
dovish
not forward looking
certain
2,014
175
the downward trend in year-on-year inflation is forecast to continue in the following months, near the target range at the end of the year, due to a moderation of the impact of international food and fuel prices, a reversal of agricultural supply shocks, and declining inflation expectations in the rest of the year
dovish
forward looking
certain
2,023
392
these include the lower prices of public utilities and some food products
dovish
not forward looking
certain
2,007
817
the board of the central bank also approved to maintain the annual interest rates on lending and deposit operations in domestic currency not included in auctions between the bcrp and the financial system, as described below overnight deposits 2.55 percent
neutral
not forward looking
certain
2,014
953
the export and import capital goods and industrial inputs volumes are above the forecast from january inflation report
hawkish
not forward looking
certain
2,005
328
the board of the bank decided to maintain borrowing and lending interest rates for central bank operations at 4,25 percent for monetary regulation credits and direct temporary purchases of bcrs securities
neutral
not forward looking
certain
2,003
126
bcrp maintained the policy interest rate at 3.0 the board of the central reserve bank of peru approved to maintain the monetary policy interest rate at 3.0 percent
neutral
not forward looking
certain
2,018
4
the decision to reduce the reference rate considered the following information and projections in august, monthly inflation was 0.28 percent and core inflation was 0.01 percent
neutral
not forward looking
certain
2,024
889
leading indicators continued to improve in december at a higher than expected rate, although they remain below the levels recorded at the end of 2019, while firms growth expectations moderated in december
dovish
not forward looking
certain
2,021
989
even though domestic supply shocks are being observed, the impact of these shocks on inflation is expected to reverse more strongly as from mid-2012, after which annual inflation would converge towards the target range
neutral
forward looking
certain
2,012
726
thus, the average 90-day corporate prime rate in soles in the same month was 5.18 percent, decreasing by 1 basis point relative to march, while the yield on the 20-year sovereign bond in soles was 6.02 percent, 23 bps
dovish
not forward looking
certain
2,007
414
in the fourth quarter of 2017, public expenditure, particularly investment expenditure, grew less than forecast, as a result of which the gap between economic activity and its potential level of growth increased, and iv
dovish
not forward looking
certain
2,018
965
in line with this, gdp is expected to grow 3.8 percent in 2016 and 4.2 percent in however, the indicators associated with construcion and manufacturing have fallen in the past three months due to the weakness of investment
neutral
forward looking
uncertain
2,016
661
between october and november, year-on-year inflation increased from 2.0 to 2.3 percent due to a base effect
neutral
not forward looking
certain
2,024
9
the board also decided the following interest rates on its window facility operations in domestic currency with financial entities overnight deposits 4.50 percent per year
neutral
not forward looking
certain
2,022
197
this level of the benchmark rate is compatible with an inflation forecast in which inflation converges to the target range during 2017 and remains within the target range in this forecast takes into account the following factors i the reversal of the supply shocks that affected inflation in the first quarter, confirming the trend projected in the previous month; ii expectations of inflation in 12 months are temporarily close to the upper band of the inflation target range; iii the pace of growth of domestic economic activity has continued to slow down in recent months, the output showing a pace of growth below its potential growth level
dovish
not forward looking
uncertain
2,017
435
the increases in consumer prices have affected the expected rate of inflation, pushing it above the target range
hawkish
not forward looking
certain
2,016
553
the central bank pays close attention to new information and stands ready to extend monetary stimulus in different ways
neutral
not forward looking
certain
2,020
887
the following interest rates will be used in foreign-currency operations the effective annual rate for monetary regulation credits will be 7,0 percent
neutral
forward looking
certain
2,001
160
the board will approve the monetary program for september on its session of september
irrelevant
forward looking
certain
2,008
637
primary industries show a weak performance as a result of temporary supply shocks, while non-primary industries maintain a moderate growth momentum
dovish
not forward looking
certain
2,019
950
bcrp raised the reference rate to 1.75 the board of the central reserve bank of peru approved to raise the monetary policy reference rate from 1.50 percent to 1.75 percent this measure is mainly preventive given the strong dynamism of domestic demand and implies maintaining monetary stimulus in a context in which no inflationary pressures are observed
hawkish
not forward looking
certain
2,010
799
the bcrp boards next monetary policy session will take place on august 8, lima, july 11,
irrelevant
forward looking
certain
2,024
88
inflation excluding food and energy showed a rate of 0.12 percent and an accumulated annual rate of 1.80 percent
neutral
not forward looking
certain
2,011
487