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Peru cenbank cuts deposit rules for 3rd straight month
September 29, 2013 / 10:14 PM / 4 years ago

Peru cenbank cuts deposit rules for 3rd straight month

LIMA, Sept 29 (Reuters) - Peru’s central bank will loosen reserve requirements in October for the third straight month, as part of its effort to inject liquidity into the South American country’s economy, the bank said in a statement on Sunday.

The bank said it is seeking the orderly growth of credit in the local sol currency as foreign borrowing costs rise.

“The measure will permit 1 billion soles ($360 million) of liquidity to enter the national financial system,” the statement said.

Last year Peru’s economy expanded 6.3 percent, one of the fastest rates in the region. This year growth has slowed more than expected because of weaker mineral exports and slightly tamer domestic demand.

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