Peru's central bank cuts benchmark interest rate by 0.25 pct

LIMA, July 10 Thu Jul 10, 2014 7:11pm EDT

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LIMA, July 10 (Reuters) - Peru's central bank surprised the market by cutting the benchmark interest rate a quarter percent to 3.75 percent on Thursday, citing sluggish economic growth and saying it is not the start of a series of reductions.

All but three out of 14 foreign and local economists polled by Reuters this week said they thought the bank would hold the rate steady on expectations of a stronger economic expansion in the second half of the year. (Reporting by Lima Newsroom; Editing by Lisa Shumaker)

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