February 2, 2015 / 9:17 PM / 5 years ago

Peru cenbank sees no need for aggressive monetary policy to counter slowdown

LIMA, Feb 2 (Reuters) - The head of Peru’s central bank said on Monday that he does not see the need for “very aggressive monetary policy” and that worries over the country’s economic slowdown are exaggerated.

A strong recovery will likely take root in the second quarter after an economic expansion in the first few months of 2015 that was probably “not exceptionally good,” Central Bank President Julio Velarde said in an interview.

Velarde also cut the central bank’s view for Peru’s potential growth rate to around 5 percent from last year’s estimate of 5.3 percent, citing lower commodity prices and slower growth in the local workforce. (Reporting By Teresa Cespedes and Mitra Taj; Editing by Meredith Mazzilli)

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