July 10, 2020 / 6:04 PM / in a month

Peru's central bank says 'can't rule out' further rate cuts from historic minimum

LIMA, July 10 (Reuters) - Peru’s central bank on Friday said it would not rule out further rate cuts from the current historic minimum as the country struggles to revive its economy blighted by the lockdown associated with the novel coronavirus.

Adrian Armas, head of economic studies for the bank, said “additional reductions (of the interest rate) are not ruled out” in a telephone press conference given by the bank’s board of directors.

The bank on Thursday kept the benchmark interest rate at 0.25% for a third consecutive month. Last month it estimated an annual GDP contraction of 12.5% in 2020, which it said would be the worst decline in a century. (Reporting by Marco Aquino, writing by Aislinn Laing; editing by Chris Reese)

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