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Take physic, pomp

Peru interest rates: Otto 1, Dumbasses 0

As predicted yesterday, Peru’s Central Bank just cut its base lending rate by a quarter point. Beats me why you’re still reading the dumbass economists of this world. As a final auto-horntoot, here’s how yesterday’s post began*.

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This Reuters article tonight reports that seven of nine economists (a.k.a self important dumbasses) say that Peru’s Central Bank (BCRP) will not cut its prime lending rate from the current 6.5% at its meeting tomorrow. Well, let’s go out on a limb and say that Velarde&Co will show those seven to be wrong. Otto is siding with the other two and says the BCRP will in fact cut rates by 0.25%. Reasons:

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*As my wife will quickly tell you, I’m insufferable when I’m right and even worse when wrong

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