June 22, 2017 / 6:12 PM / 3 months ago

Peru cenbank loosens reserve requirements for dollar deposits

LIMA, June 22 (Reuters) - Peru’s central bank will lower reserve requirements for deposits in dollars to 42 percent from 44 percent starting July 1, a measure aimed at spurring lending that should free up an estimated $110 million, the bank said Thursday.

The bank said in a statement that loosening the reserve requirement will help stabilize credit conditions as lending slows in the local market and interest rates abroad rise. (Reporting By Mitra Taj; Editing by Marguerita Choy)

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