UPDATE 1-Peru central bank holds rate steady, ups deposits
(Adds comment, details)
LIMA, March 13 (Reuters) - Peru's central bank held its benchmark interest rate steady at 5.25 percent on Thursday after a monthly monetary policy meeting, but raised deposit requirements for lenders in a bid to curb inflation.
In a statement after its monetary policy meeting, the central bank said it raised the minimum legal deposit rate on bank accounts to 8 percent from 7 percent, and the marginal deposit rate for bank accounts denominated in the Peruvian currency to 20 percent from 15 percent.
"Taking into account the elevation of deposit requirements that will take effect in April, it is estimated the impact will be equivalent to an increase of the interest rate of 50 basis points," the statement said.
On Wednesday, Central Bank President Julio Velarde said he favored raising deposit requirements instead of the interest rate. (Reporting by Teresa Cespedes and Terry Wade; Editing by Diane Craft)
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