Peru’s central bank held its key interest rate at 6.25%, contrary to market expectations of a 25 bps reduction. This decision comes after seven consecutive rate cuts, with the recent pause reflecting an inflation uptick to 3.3% in February, hovering at the upper boundary of the central bank’s 1%-3% target range. The bank highlighted a global economic forecast of moderate growth and lower inflation pressures but acknowledged persistent risks from international conflicts impacting fuel and freight costs.