Global Fi­nance names Perng Fai-nan among top-tier cen­tral bankers

The China Post - - LOCAL -

Perng Fai- nan ( ), gover­nor of Tai­wan’s cen­tral bank, was named one of the world’s nine best cen­tral bankers in 2015 by Global Fi­nance mag­a­zine and given an “A” grade for the 11th year in a row.

It was the 12th “A” the 76-year-old cen­tral banker has re­ceived dur­ing his time as as gover­nor of the Cen­tral Bank of the Re­pub­lic of China from 1998 to the present, with his first “A” com­ing in 2000.

Other cen­tral bank chiefs given an “A” in Global Fi­nance’s Cen­tral Banker Re­port Cards for 2015 were the heads of cen­tral banks in the Czech Re­pub­lic, the Euro­pean Union, In­dia, Is­rael, Malaysia, Paraguay, Peru, and the Philip­pines, ac­cord­ing to the re­port pub­lished Mon­day.

Perng did not re­spond to the recog­ni­tion in per­son, choos­ing to say through an aide that the honor does not be­long to any in­di­vid­ual but to all of Tai­wan’s cit­i­zens.

In its Cen­tral Banker Re­port Cards, pub­lished an­nu­ally since 1994, Global Fi­nance grades the cen­tral bankers of nearly 75 coun­tries (and the Euro­pean Union) on an “A” to “F” scale for their abil­ity to con­trol in­fla- tion con­trol, meet eco­nomic growth goals, keep their cur­rency sta­ble and man­age in­ter­est rates.

Zhou Xiaochuan, gover­nor of the Peo­ple’s Bank of China, re­ceived a “C,” down from a “B-” in 2014, while Janet Yellen, the U.S. Fed­eral Re­serve chair­woman, was given an “A-” for her first year on the job, the mag­a­zine said.

In a com­ment ac­com­pa­ny­ing the grades, Global Fi­nance pub­lisher and ed­i­to­rial di­rec­tor Joseph Giar­ra­puto said cen­tral bankers play a cru­cial role as global economies face a num­ber of chal­lenges, from a strength­en­ing U.S. dol­lar to the end of the Fed­eral Re­serve’s easy money pol­icy.

“Cen­tral bankers re­main cru­cial in over­com­ing these hur­dles. Sound mon­e­tary poli­cies can dampen the ef­fects of cur­rency swings and ris­ing in­ter­est rates — and thus spur eco­nomic growth,” Giar­ra­puto said.

“As our scores show, some cen­tral banks have fared bet­ter than oth­ers in de­vis­ing such poli­cies. Our grades also re­flect the will­ing­ness of cen­tral bankers to stand up to po­lit­i­cal in­ter­fer­ence as well as their abil­ity to in­flu­ence gov­ern­ment poli­cies on spend­ing and for­eign in­vest­ment,” he said.

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