LIMA, March 30 Peru's central bank will lower
reserve requirements for bank accounts denominated in the sol
currency to 12 percent from the previous 12.5 percent as part of
a drive to stimulate lending.
The new rules go into effect from April 1, the bank said in
a statement on Sunday. It is the fifth month in a row that the
bank has lowered the rate in this way.
The measure should inject around 500 million Peruvian sols
($178 million) into the local financial system.
Reserve requirements are the percentage of deposits
financial institutions such as banks have to maintain in cash in
their vaults or in accounts with the central bank.
Peru's economy expanded just over 5 percent last year, its
slowest rate of growth in four years.
($1 = 2.8105 Peruvian sols)
(Reporting by Marco Aquino, Writing by Rosalba O'Brien; Editing
by Meredith Mazzilli)