Peru's economy likely expanded some 4% in January, the central bank's chief economist, Adrian Armas, said in a call on Friday, in line with analysts' forecasts and a day before the government is set to publish the monthly figure.

Separately, the central bank expects inflation this year to be stable at around 2 percent, though adding it could revise the forecast upward if prices of electricity and railway tickets rise. “We need to be more concerned about uncertainties over inflation and the economy,” Yang told lawmakers.

Turkey’s central bank has lowered its key interest rate by a further 2.5 percentage points days after official figures indicated a slowdown in inflation that has eroded households’ purchasing power.

Peru's central bank held its benchmark interest rate at 4.75% on Thursday, in line with analysts' expectations. Peru, which has one of the lowest interest rates in Latin America, has since September 2023 gradually eased the key lending rate from a high of 7.

Perus central bank kept its benchmark interest rate steady at 4.75% on Thursday, aligning with market expectations. The decision follows a gradual easing cycle since September 2023, when the rate peaked at 7.