Karnit Flug Ranked Among Top Seven Central Bank Governors

Global Finance magazine gives Bank of Israel head an 'A.'

Emil Salman

Bank of Israel Governor Karnit Flug has been listed as one of the world’s top seven central bank governors by the magazine Global Finance. The magazine, which publishes an annual ranking of central bank governors, gave Flug its top rating, an A. Flug’s predecessor Stanley Fischer repeatedly was given a rating of A by the magazine.

Other top bankers who received an A rating were the central bank governors of India, Malaysia, the Phillipines, Saudi Arabia, Switzerland and Taiwan.

Mario Draghi, president of the European Central Bank, was given a grade of A-.

The magazine added that it was too early to rate the performance of U.S Federal Bank chairwoman Janet Yellin. Fischer is now one of Yellin’s deputies.

Global Finance has been ranking the central bank governors of 70 nations since 1994. Its criteria include maintaining a healthy inflation rate, the economy meeting growth targets, price stability and interest rate management.

Despite the magazine’s praise for Flug, she has not always been subject to such warmth at home. Flug, who had been Fischer’s deputy, was Prime Minister Benjamin Netanyahu’s last choice candidate for the job last year.

Flug recently made headlines after the central bank cut September interest rates to an all-time low of 0.25% under her leadership. The move was described as a strong leadership decision.