Julio Velarde celebrates 20 years at the helm of the BCRP: Five interactive charts to understand the milestones achieved during his tenure
Today, it is an almost indisputable fact that the Central Reserve Bank (BCR) stands out among various public institutions as an island of efficiency within the State. Since Julio Velarde’s appointment at the head of the BCR almost two decades ago, the institution has maintained an average annual inflation of 3.2%, the lowest in the region. In 11 of the last 20 years, the year-end annual inflation remained below 3% and only escaped the target range (between 1% and 3% of the annualized rate) in specific periods mainly associated with supply shocks related to international factors.