Senate elects three BCRP directors and defines monetary leadership

The Senate of the Republic elected Oswaldo Molina Campodónico, José Ricardo Stok Capella, and Juan José Marthans León as members of the Board of Directors of the Central Reserve Bank of Peru (BCRP). The decision is contained in the Senate Legislative Resolution 002-2026-2027-S, published this Friday, October 23, 2026, in the Official Gazette El Peruano (Year XLIII, No. 19592, p. 4). The text is dated October 21, 2026, and is signed by the president of the Senate, Miguel Ángel Torres Morales, and the first vice president, Alejandro Muñante Barrios.

The Senate acted, according to the text itself, “in exercise of the powers conferred by Article 86 and numeral 5 of Article 102-A of the Political Constitution of Peru; Article 201 of its Regulations; and Article 9 of Decree Law 26123, Organic Law of the Central Reserve Bank of Peru.” The regulation is limited to a single resolutive article, titled “Election of three members of the Board of Directors of the Central Reserve Bank of Peru,” and closes with the formula “Publish, communicate, and comply.”

The BCRP is the entity whose leadership corresponds to the Board, and its Organic Law—approved by Decree Law 26123—is what establishes in Article 9 the intervention of the Senate in the appointment of some of its members. The publication occurs in the Legislative Power section of the official bulletin, within the Congress of the Republic block.

The three elected

The resolution expressly identifies the three new members of the Board:

• Oswaldo Molina Campodónico
• José Ricardo Stok Capella
• Juan José Marthans León

The document does not state in its published text the terms of office, resumes, or exclusive dedication of the appointees; it is limited to the election and the order of publication and communication.

Legal basis and procedure

The regulation invokes three normative bodies as support for the attribution: Articles 86 and 102-A, numeral 5, of the Political Constitution of Peru; Article 201 of the Senate Regulations; and Article 9 of the Organic Law of the Central Reserve Bank of Peru. The date of signing, October 21, 2026, is two days prior to its appearance in the official gazette, and the act appears endorsed by the Presidency and the First Vice Presidency of the Senate.

According to the procedure described in the device itself, the election is completed in the legislative act and its official communication, without the published text including complementary provisions, transition regimes, or additional assignments to other entities.

Other BCRP acts in the same edition

The same edition of the bulletin includes Board Resolution No. 0054-2026-BCRP-N, dated October 19, 2026, which authorizes the overseas mission of Ricardo Quineche Uribe, head of the Prices Department of the Economic Information and Analysis Management, to participate in a course on consumer and producer price indices organized by CEMLA and INEGI of Mexico, from October 26 to 29, 2026, in Mexico City. The authorized expenditure amounts to US$ 2,594.58, broken down into US$ 1,794.58 for airfare and US$ 800.00 for per diems, and the resolution is signed by Julio Velarde, Chairman of the Board.

Both documents share the same date of public circulation and confirm that the Board of the issuing institute maintains resolutive activity in parallel with the renewal process of its members.

Impact

The composition of the BCRP Board is decisive for the conduct of monetary policy, the setting of the reference rate, and decisions on reserve requirements and credit regulation; therefore, the election of three of its members directly affects the cost of financing for companies and households, the evolution of deposits, and inflation expectations. For market operators, the definition arrives with the seal of the Senate and with explicit normative reference to the Organic Law of the issuing institute, which provides formal certainty to the entity’s leadership quorum.

Source: Official Gazette El Peruano, No. 19592, October 23, 2026, Legislative Power section – Congress of the Republic, p. 4 (official reference: R. Leg. No. 002-2026-2027-S).