November 9, 2017 / 11:20 PM / a year ago

Peru cenbank cuts interest rate for fourth time this year

LIMA, Nov 9 (Reuters) - Peru’s central bank lowered the benchmark interest rate to 3.25 percent on Thursday following a sharp drop in inflation, its fourth 25-basis point cut this year as the economy recovers from severe flooding and a graft scandal early this year.

The market had been divided about the rate decision this month, with nine out of 14 analysts polled by Reuters forecasting the hold and the rest expecting a cut. (Reporting By Mitra Taj; Editing by Chris Reese)

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