Peru’s central bank lowered its policy rate by 25 bps to 6.5%, marking the fifth consecutive cut. The move aims to steer inflation, which stood at 3.24% in December, back within the target range of 1% to 3%. The bank indicated that future decisions will be guided by incoming inflation data. Meanwhile, Peru experienced a significant increase in its trade surplus, reaching USD 1.93 bln in November 2023, as exports rose by 16.4% YoY, while imports declined by 10.8%.