Peru's central bank holds benchmark rate again

Peru's central bank held its benchmark interest rate steady at 1.25 percent on Thursday as it waits for signs of higher inflation and stronger economic growth before raising rates from an all-time low. The central bank's annual inflation target is 2 percent plus or minus a 1 percentage point tolerance band. It has said it expects inflation to accelerate to fall within the range later this year.
"Leading indicators show clear signs (the economy) is regaining dynamism, but inflationary pressures have not been observed," the central bank said in a statement. The inflation rate for the 12 months through March was just 0.76 percent.