FX.co ★ Peru Unexpectedly Holds Rate at 4.25%

Peru’s Central Reserve Bank unexpectedly left its benchmark interest rate unchanged at 4.25% in October 2026, extending its pause for a 13th consecutive meeting and defying market expectations of a 25-basis-point increase. Annual inflation accelerated to a three-month high of 4.55% in September, up from 4.44% in August. This was the seventh consecutive month in which inflation remained above the central bank’s 1%–3% target range, as rising global fuel and electricity prices continued to push up transportation costs.