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Peru central bank keeps benchmark rate at 2.75%

In its first monetary policy decision of 2019, Peru's central bank decided to maintain its benchmark interest rate at 2.75%.

Banco Central de Reserva del Perú said annual inflation was 2.2% in December 2018 and is expected to remain within the central bank's target range. It added that 12-month inflation expectations stood at 2.50% at the end of 2018.

Meanwhile, economic activity indicators showed greater signs of dynamism in the fourth quarter of 2018, but risks related to the global economy and trade tensions still persist, the bank said. Most business expectation indicators have also improved, it noted.

The central bank's next rate decision is scheduled for Feb. 7.