February 25, 2019 / 10:07 AM / a year ago

Peru not ready to stop stimulus, but time will come - central bank

LONDON, Feb 25 (Reuters) - Peru’s central bank President Julio Velarde said on Monday that there would be no removal of monetary stimulus in “immediate future”, but that the time would come if the country’s economic growth remained strong.

Velarde told reporters at an investment conference in London that Peru’s growth should get to around 4 percent by the end of the year, while inflation was likely to stay well-contained at around 2 percent.

“If growth continues to be strong, there will be a time to withdraw stimulus and that is a good signal,” he said. “But we don’t see that in the immediate future.”

Peru’s central bank held its main interest rate at 2.75 percent for the 12th straight month this month and said it planned to keep its expansive monetary stance in place while inflation expectations remained anchored. (Reporting by Karin Strohecker; editing by Marc Jones)

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