Governor Singer wins Emerging Markets award

The Governor of the Czech National Bank Miroslav Singer won the Central Bank Governor of the Year for Emerging Europe 2013 award presented by the Emerging Markets magazine. He will receive the award at an evening ceremony during the Annual Meetings of the World Bank Group and the International Monetary Fund in Washington, D.C., on Saturday 12 October 2013, starting at 6 p.m. EDT.

“This award, but also similar assessments and ratings of governors reflect how the media portray our work and ourselves rather than being the defining moments of our careers. Nevertheless, I value this award highly. On the one hand, it is encouraging that international experts have a favourable opinion of our central bank and its actions; on the other hand it is clear that this is a recognition of the work of all my colleagues at the Czech National Bank more than a recognition of myself,” said CNB Governor Miroslav Singer.

The Managing Director of Emerging Markets Antonia Oprita said that Governor Singer received the award for an “adequate communication policy” after the CNB exhausted the room for easing monetary policy using interest rate cuts. According to her, the magazine appreciated that the CNB prevented the strengthening of the Czech koruna by verbal intervention and by properly signalling to markets.
The awards are chosen by the Emerging Markets magazine, taking into account nominations from regional experts. The winner of the 2012 award for emerging Europe was the Governor of the Central Bank of the Republic of Turkey Erdem Basci.

Marek Petruš
CNB spokesman