Sat, Aug 25, 2012 - Page 13 News List

Perng rates ‘A’ among central bankers: US report

By Kevin Chen  /  Staff reporter

For the eighth straight year, central bank Governor Perng Fai-nan (彭淮南) received an “A” rating for performance, according to the latest issue of Global Finance magazine.

In its annual report, “2012 Central Banker Report Cards,” Global Finance named Perng and five of his global peers as the world’s best central bankers over the past year, the New York-based magazine said in a press release on Thursday.

Of the magazine’s annual survey of 50 key countries and the European Central Bank, Perng is by far the only central banker to have won an “A” rating nine times — one in 2000 and eight straight years from 2005 to this year.

Asked to comment on the report, Perng yesterday said the honor was not his alone.

“This honor belongs to all of the people of Taiwan,” he said in a short statement.

Five other central bankers who received the same score as Perng were Bank of Canada Governor Mark Carney, Reserve Bank of Australia Governor Glenn Stevens, Bank of Israel Governor Stanley Fischer, Bank Negara Malaysia Governor Zeti Akhtar Aziz and Bangko Sentral ng Pilipinas Governor Amando Tetangco.

US Federal Reserve Chairman Ben Bernanke received a “B,” up from last year’s “C”; Bank of Japan Governor Masaaki Shirakawa received a “C-,” down from “C” last year; and European Central Bank President Mario Draghi was given a “B-” during his first year in office.

People’s Bank of China Governor Zhou Xiaochuan (周小川) and Monetary Authority of Singapore Managing Director Ravi Menon were both rated “B-” this year, down from their “B” ratings last year, while Bank of Korea Governor Kim Choong-soo received another “C” this year.

Global Finance grades the performance of central bankers on a scale from “A” (excellent) to “F” (fail) in several areas, including inflation control, currency stability and interest rate management. Bank officials’ ability to achieve economic growth targets, confront political interference and maintain policy transparency is also factored into the score.

Perng was appointed the nation’s top monetary policymaking position in 1998. His third five-year term will expire in February and market watchers are speculating about a likely fourth term if there is no apparent successor in sight.

However, the 73-year-old said last year that his current job would be his last as a public servant.

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