Overview
- Julio Velarde said he would "think about" staying on as president of Peru’s central bank if the next government asks him to continue.
- He said the bank’s independence is well established and would hold even if he leaves the post.
- The central bank kept its key rate at 4.25% for a seventh straight meeting as March inflation reached 3.8%, above its 1% to 3% target band.
- Velarde called it premature to raise rates over what he sees as a temporary energy shock tied to Middle East tensions, and he prefers to wait for clearer data.
- Presidential contender Roberto Sánchez now says he will defend the bank’s autonomy after earlier urging Velarde’s removal and use of reserves, with the next rate decision due May 14 ahead of a late-July change of government.