EL DIFÍCIL TRABAJO DE LOS BANCOS CENTRALES.

Central banks, blamed when countries and regions fail to grow, are continually subject to political pressures as well as closely scrutinized by analysts and financial markets. Misunderstandings may occur because of the tasks these agencies are charged with, which center on price stability and control over inflation. Central banks may be credited with generously achieving their goal, given the inflation record of the last three decades. In 2004, average world inflation fell below 4 percent, compared with over 40 percent in 1990. Nonetheless, the challenges to monetary policy in coming years suggest a complex management task. [ABSTRACT FROM AUTHOR]