Bank lending to private sector continues to accelerate despite BCRP efforts

Monday, April 11, 2011

Expansion of bank lending to Peru's private sector continued to accelerate through mid-March, according to central bank BCRP's latest figures.

Lending to the private sector expanded by 19.3% annually through March 15, compared with 19.1% at the end of February and 17.8% at end-December 2010.

The BCRP has been trying to address inflationary concerns by putting the brakes on credit expansion through a variety of measures, including higher reserve requirements.

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The central bank has said it wants lending to the private sector to expand at an annual rate slower than 20%.