March 13, 2020 / 1:31 AM / a month ago

UPDATE 1-Peru central bank holds interest rate at 2.25%

(Adds details from bank’s decision, coronavirus)

LIMA, March 12 (Reuters) - Peru’s central bank left its benchmark interest rate unchanged at 2.25% on Thursday, even as policymakers around the globe moved to slash rates to stimulate economies increasingly battered by the impact of the coronavirus.

The bank said in a statement accompanying its decision that economic indicators had shown modest growth in the first two months of the year.

But the bank said risks associated with a slowdown in global economic activity and the local effects of the coronavirus had sharply increased financial market volatility. There have been 22 cases of the coronavirus in Peru.

Peru’s economy grew 2.16% in 2019, the country´s slowest growth in a decade. Mining and fisheries both slumped.

Government projections in late 2019 put 2020 growth at 4%. Those figures will be revised at the end of March, authorities have said.

Reporting by Marco Aquino; Writing by Dave Sherwood; Editing by Sandra Maler and Peter Cooney

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