Central Bank Ranking: Close Calls

Sep 1, 2010

Mexico edges out Brazil and Chile for this year’s prize among the region’s central banks. The trio is not without criticism in what has been a tricky 12 months.

by Ben Miller

Renewed troubles in the developed economies present fresh challenges for Latin America’s largest economies, even as they came away with praise for handling the 2008-2009 credit crisis. Managing renewed growth is tricky, especially when it is dependent on heavy stimulus measures enacted during crisis.

For the second year, LatinFinance has polled economists, analysts and other LatAm-focused experts to find out which central bank has done the best job in the last 12 months. The results are not unanimous. There are strong cases to be made for and against the three clear favorites: Brazil, Mexico and Chile.

Differentiating between this top tier is not easy. The crisis has tested the mettle of central banks globally, and they now face the supreme challenge of timing stimulus withdrawal. Too fast, and G7 central bankers risk a double dip. Too slow and inflation rears up.

Latin America’s central bankers...

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