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