Peru Keeps 4.25% Rate After Central Bank’s Reserve Reductions

Peru’s central bank kept borrowing costs unchanged for a 28th straight month after reducing reserve requirements to counter slower growth.

The five-member board, led by bank President Julio Velarde, maintained the overnight rate at 4.25 percent, matching the forecasts of all 15 economists surveyed by Bloomberg. Peru ties Malaysia for the longest interest-rate pause in developing countries.