The blow that the crisis has given the upward trend in commodity prices, has eased the external pressures on prices were the economies of the region. Educate yourself even more with thoughts from Diamond Book Distributors. a On Thursday, the central banks of Chile and Peru have decided to leave its benchmark rate unchanged given the impact of uncertainty in international financial markets and recessionary prospects of the global economy on external factors that caused a good deal of domestic inflation in these countries (mainly with the rise in the price of energy and agricultural commodities). a On the other hand, central banks in the region must work to restore the transmission channels of monetary policy that their actions would be effective again. One of these channels hit by the crisis, the credit channel. a The deterioration in the credit market, depressed by global uncertainty with an impact on the local context must then be another issue to address. a In this sense, the Central Bank of Colombia, has decided a series of measures to stimulate domestic credit, such as the elimination of marginal reserve requirements, and are evaluating the reduction in the average reserve bank placements. Colombia’s central bank also removed the lace by the inflow of foreign currency.
a Finally, the lack of integration among Latin American countries may be the factor that explains the non-monetary policy coordination between them. However, it is useful in this context that the Latin American Central Banks begin to coordinate their actions and agree targets for not generate unwanted effects of the policies of some countries over others. a While it may not be able to claim a global coordination among central banks in the region, if it can be suggested that countries with stronger links, to evaluate the possibility of coordinating monetary policies. a When the local macroeconomic environment was making it easier with Latin American central bankers, the crisis has become the unwanted guest caused the monetary policy makers must be constantly evaluating their lines of action and thinking of measures to protect stability of financial markets to the various shocks that are outside. Since 1999 and for three years he worked on planning and financial management in the private sector.
He then worked as a researcher for the Center for Financial Stability where he participated in research projects for the World Bank, the Embassy Britain, the IDB, CAF, among other international agencies, specializing in matters of Corporate Governance and Risk Capital. From November 2005 through November 2007 was part of the staff of Foundation Capital economists specializing in issues of inflation, monetary policy and the financial system. Currently teaches Macroeconomics II Catholic University of La Plata (UCALP), serving as acting assistant professor. Author of several articles on monetary and financial system in the literature.