Peru unexpectedly raises rates

The Central Bank of Peru surprised markets on Thursday by backing a 25 basis-point hike and raising the reserve requirement for foreign and domestic currency holdings.

The rise took rates to 5.5%.

The central bank increased the minimum reserve requirement from 8% to 8.5%. The marginal reserve requirement for domestic currency rose to 25%, the requirement for foreign currency to 45%. It said the reserve requirement measures would have the same impact as a 50 basis point hike to its benchmark r

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