Peru Keeps 4% Rate as Reserve Requirement Cuts Signal Recovery
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Peru’s central bank kept borrowing costs unchanged after cutting reserve requirements for a sixth time in seven months to fuel a rebound in growth.
The seven-member board, led by bank President Julio Velarde, yesterday maintained the overnight rate at 4 percent for a third straight month, matching the estimates of 14 of 15 economists surveyed by Bloomberg. One analyst forecast a quarter-point reduction to 3.75 percent.