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11/01/2018 - 16:00hs
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Brazilian named central bank governor of the year

Ilan Goldfajn won an award from Britain’s The Banker magazine in the Global and Americas category. He’s the first Brazilian Central Bank executive ever to win the accolade.



São Paulo – The Brazilian Central Bank governor Ilan Goldfajn, was named the 2018 Central Bank Governor of the Year by British magazine The Banker in the Global and Americas category. The Brazilian government reported this Thursday (11) that this is the first time a Brazilian ever wins the Global category. The Banker is a publication from the Financial Times group, which also issues the eponymous newspaper.

Last year, Brazil got growing again after a two-year recession spell, and inflation hit 2.95%, the lowest rate since 1998, and lower than the bottom threshold of the Central Bank’s target range, which was 3%. The magazine acknowledged these two things, according to a communiqué from the Brazilian government (The Banker’s online content is subscribers-only). The communiqué also says that in 2018, the bank will focus on reducing bank spreads. The Central Bank is Brazil’s monetary policymaking body, and it relies on the benchmark interest rate (aka the Selic rate) to steer inflation toward its target.

Other winners include Czechoslovakia’s Jirí Rusnov (Europe), Singapore’s Ravi Menon (Asia-Pacific), Bahrain’s Rasheed Mohammed Al Maraj (Middle East) and Kenya’s Patrick Njoroge (Africa). The UAE’s Mubarak Rashed Al Mansoori was the winner in the Global category last year.

*Translated by Gabriel Pomerancblum

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