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Three Challenges to Central Bank Autonomy

机译:央行自治的三个挑战

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Central bank independence, a totem of economic respectability, is being challenged in some key emerging markets as the Covid-19 pandemic rages toward its second anniversary. Autonomy in setting interest rates has become almost holy writ the past few decades. Countries whose policymakers can act without political encroachment are widely considered to be better managed, with superior long-term growth and inflation that's under control. The idea is that central bankers can act in a nation's long-term interest without deference to government leaders; the latter by instinct tend to shy away from tough decisions.
机译:中央银行独立,经济尊重的图腾,在一些关键的新兴市场被挑战,因为Covid-19大流行争夺于其第二周年。 在过去的几十年里,设定利率的自主权已经变得几乎是圣洁的。 未经政治侵犯的政策制定者可以采取行动的国家被广泛认为是更好的管理,具有较强的长期增长和控制的通货膨胀。 这个想法是,中央银行商可以在一个国家的长期利益上行事,没有尊重政府领导人; 后者通过本能倾向于害羞地远离艰难的决定。

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