The CB of Peru downgraded its GDP growth forecast for 2014 and 2015 to rates that we still see as high

Summary

Peru's central bank lowered its growth forecast for 2014 and 2015 influenced by supply factors that have particularly affected mine production and producer confidence to growth of 3.1 and 5.5%, respectively. We estimate that the growth rates implied are very high and we expect somewhat lower growth.

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