Overview
- The Executive issued Resolución Suprema Nº 258-2026-PCM formalizing Julio Velarde’s five-year reappointment, a step published Friday and signed by President Keiko Fujimori, Prime Minister Luis Galarreta and Finance Minister Elmer Cuba.
- Under Article 86 of the Constitution the designation now must be ratified by the Congress Senate before Velarde’s new term is legally completed.
- Velarde confirmed he accepted the president’s request to continue; he has led the Banco Central de Reserva del Perú since 2006 and, if confirmed, would approach 25 years as its president.
- He takes office with inflation running around 4% (July year-on-year reported near 4.07%) and inflation expectations above the bank’s 3% ceiling, making price control the immediate policy priority.
- Universities in Lima and Arequipa recently honored Velarde for his role in institutional strengthening, and the BCRP is advancing modernization efforts such as digital payments pilots while seeking to preserve central-bank autonomy.