The president of the Central Reserve Bank of Peru (BCRP) had its second presentation at the World Economic Forum that is taking place in Davos, Switzerland, in the debate “What’s next for monetary policy.”

The panel was made up of Thomas Jordan, governor of the Swiss National Bank and member of the Bank for International Settlements. Mark Carney, former governor of the Central Bank of Canada and the Bank of England, also participated. The panel was moderated by Martin Wolf, editor at The Financial Times and renowned journalist specializing in economics and finance.

Velarde recalled that the Central Reserve Bank of Peru was the first among emerging markets to react and raise its reference interest rate (in August 2021) to inflationary pressures, and is currently one of the first countries to reduce the inflation rate to close to its target range.

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“I think inflation is coming down around the world. And we will probably reach the target range. Some countries could reach it in 2025; In our case, inflation is close to the target range, and we expect it to be within that objective in the next two months. So we’re pretty good.”he stressed.

Likewise, he highlighted the importance of the credibility that central banks will react if inflation accelerates.

Panel officials also discussed the standard monetary policy toolkit, and how central banks can adapt and innovate to remain effective stewards of the global economy.

He World Economic Forum It is an event that has been taking place from January 16 to 19 and brings together various political authorities from around the world, as well as central governors and finance ministers, academics, private institutions and investors from around the world.



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