LIMA, Jan 16 (Reuters) - Peru’s central bank said on Friday that the sharp economic slowdown over the past year likely touched bottom in November and that growth in December was “certainly” stronger than the previous month‘s.
The central bank’s chief economist, Adrian Armas, said that November’s 0.31 percent year-on-year expansion was a surprise. The central bank cut the benchmark interest rate by 25 basis points late on Thursday after the release of growth data for November.
Armas added that inflation will likely ease into the central bank’s 1 percent to 3 percent target range in February and that the sol currency’s slide is less of a concern now following new measures to curb speculation in the local spot market. (Reporting By Teresa Cespedes; Editing by Meredith Mazzilli)