March 1, 2014 / 11:46 PM / in 4 years

Peru central bank lowers bank reserve requirements again

LIMA, March 1 (Reuters) - Peru’s central bank is lowering reserve requirements for bank accounts denominated in the sol currency for the fourth month in a row, as part of a drive to stimulate lending.

The new rules lower reserve requirements in soles to 12.5 percent from 13 percent, the state newspaper said on Saturday.

The central bank has lowered reserve requirements regularly since May to free up funds as the economy expands at a slower pace than initially forecast.

Peru’s economy expanded around 5 percent last year, its slowest rate of growth in four years.

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