Peru central bank might raise 2018 growth estimate from 4pc

LIMA: Peru's central bank may raise its 4 percent economic growth estimate for this year thanks to a cyclical recovery that is well underway, the bank's chief Julio Velarde said on Wednesday.

He also told journalists that the market does not expect the bank to raise the benchmark interest rate until next year, and said a rate cut was unlikely given current "robust" growth.

"If we raised it it would be because we are seeing that the recovery is so strong that it's starting to pressure prices," Velarde said. "It would be good news."