Perng Fai-nan (???), governor of Taiwan’s central bank, was named among the world’s top-tier central bankers by New York-based Global Finance Magazine, becoming the only one in the global banking industry to hold that ranking for 13 consecutive years.
According to the latest Central Banker Report Cards released by Global Finance Thursday, Perng retained the Grade A central banker ranking on the basis of his efforts over the past year to control inflation, boost the economy, stabilize the foreign exchange rate and manage interest rates.
The Central Banker Report Cards, which have been published annually since 1994, grade the central bank governors of about 75 major countries and the European Union on a scale of A to F.
Perng was among eight central bankers to be given a Grade A, the others being Karnit Flug of Israel, Riad Salame of Lebanon, Carlos Fernandez Valdovinos of Paraguay, Julio Velarde Flores of Peru, Amando Tetangco Jr. of the Philippines, Elvira Nabiullina of Russia, and Mark Carney of the United Kingdom.
With his Grade A this year, Perng is only central banker in the Global Finance report to have gained that ranking for 13 straight years.
Over the years, Perng reportedly has been asked by Taiwan’s major political parties to run for the vice presidency or accept nomination as premier.
At a legislative hearing in March 2011, however, he said “central bank governor will be my last public post.”
In the Global Finance report, U.S. Federal Reserve Chairwoman Janet Yellen retained a Grade A minus ranking for the second consecutive year, while president of the European Central Bank President Mario Draghi dropped from A to B plus.
Meanwhile, People’s Bank of China Governor Zhou Xiaochuan (???) received a Grade C title for the second consecutive year, and Bank of Japan Governor Haruhiko Kuroda got a Grade B title for the second time in row.
“Central bankers today are tackling unprecedented challenges from political upheavals and low commodity prices as well as employment rates that remain weak despite record low interest rates,” Global Finance publisher and editorial director Joseph Giarraputo said in a statement about the annual report.
“Wise monetary policy can mitigate the negative impacts of political and economic change, but requires stiff resolve to navigate competing interests and visions,” he said. “As these scores demonstrate, some central bankers are more constrained by circumstance than others, while some have shown remarkable agility in driving policy.”
Source: Focus Taiwan News Channel