LIMA, May 24 (Reuters) - Peru's Economy Minister Jose Arista on Friday urged the Andean nation's central bank chief to be more proactive in reducing interest rates to help lift the economy out of recession.
Rates are "quite high" and "do not help reactivate the economy as quickly as we would like," Arista said at a public investment event in Lima.
The central bank declined to comment.
Peru fell into recession last year amid social conflicts and climate disruptions.
The central bank
cut its benchmark interest rate
by 25 basis points to 5.75% earlier in May, as inflation slowed to its target range of 1% to 3%. It projected inflation will keep decelerating, but noted that future rate adjustments will depend on fresh data.
Arista said cuts were needed to move the mortgage and credit markets to energize the economy and urged central bank President Julio Velarde to listen to the ministry's request.
Peru, the world's third largest copper producer, expects economic growth of 3.0% this year, after a drop of 0.6% last year, according to central bank estimates.
(Reporting by Marco Aquino; Editing by Alexander Villegas and Richard Chang)
