The Central Reserve Bank of Peru raised the average reserve requirement rate by 25 basis points in order to constrain credit growth as part of the process of monetary policy stimulus withdrawal. The move comes into effect from 1 Feb 2011; as of Jan. 25 the average reserve requirement rate of Peruvian banks was 11.9%. Loan growth in Peru for 2010 was 19% year over year according to Peru's banking association, Asbanc.
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