Central bank scorecard: Taking a stand

Central bank scorecard: Taking a stand

Bonds Corporate & Sovereign Strategy Economy & Policy

By Karen Schwartz Over the past year Latin America’s central bankers have found themselves, like so many times since the start of financial crisis, caught on the horns of a dilemma. They have faced a delicate balancing act: standing ready to support their economies if adverse global shocks arise, while attempting to ensure that monetary policy keeps inflation expectations in check. Today, as growth slows across the region – amid weakening external demand, falling commodity prices and a turning in local credit cycles – there is a sizeable risk that a sudden worsening in the global backdrop could cause a much sharper downturn in Latin America. Concerns about the fragility of the glob

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