Peru central bank clashes with IMF over communication

Julio Velarde
Julio Velarde, governor of the Central Reserve Bank of Peru
Ministerio de Defensa del Perú

The Central Reserve Bank of Peru (BCRP) says it has no plans to change its monetary policy communication strategy despite advice from the International Monetary Fund suggesting “further enhancements” could be made.

According to the country’s most recent Article IV report, published on July 24, switching to an inflation-targeting regime has bought “significant transparency gains” to the central bank, but there remains the potential for “further improvements”.

“The BCRP could consider enhancing

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