Sep 8, 2016

Careful signaling to markets and consumers by Peru’s Julio Velarde helped keep inflation in check. By Robert Kozak

Some central bank governors in Latin America have been able to find the sweet spot, guiding their countries’ economies through a morass of recession, inflation, and currency and trade issues.

Each year, LatinFinance surveys economists and financial analysts to identify who has been the most effective central bank governor in the region. We examine the institutions’ results in managing monetary policy, controlling inflation and ensuring financing stability. We also take into account the banks’ transparency and effectiveness in communicating with markets.

This year, Julio Velarde Flores, the longtime governor of the Central Reserve Bank of Peru, wins LatinFinance’s Central Bank Governor of the Year Award. Central bankers from Chile, Mexico and Costa Rica also won praise for their work during the period between July 2015 and June 2016.

An economist by training, Velarde, 64, has been at the helm of Peru’s central bank since 2006. His reappointment in 2011...

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