May 11, 2017 / 11:14 PM / a year ago

Peru's central bank cuts rate for 1st time in more than 2 years

LIMA, May 11 (Reuters) - Peru’s central bank cut its benchmark interest rate to 4 percent on Thursday, down from 4.25 percent previously, in the first rate cut since January 2015.

Before Thursday’s decision, the central bank had kept the rate unchanged for 14 consecutive months. In a statement, the central bank said it would be especially attentive to inflation and its determinants when considering further changes to monetary policy.

Of 18 analysts surveyed in a Reuters poll, 10 said they expected the central bank to cut the rate while the rest said they expected it to hold steady. (Reporting by Teresa Cespedes; Writing by Luc Cohen; Editing by Sandra Maler)

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