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5/6/10

RGE Monitor just can't get the staff these days (this week's coveted award)

RGE Monitor is the website and business and thingy all set up by Nouriel Roubini to cover the fascinating (stifles yawn) world of country macroeconomics. Unfortunately, the man who managed to predict the 2008 housing bust well in advance has seen his standards pulled back to the mean by staffers who can't even predict a day in advance. Case in point is Bertrand Delgado, who gets to wear a name badge with "Senior Latin America Economist, RGE Monitor" written on it. When asked about whether Peru's Central Bank would raise their base lending rate this afternoon or stick at the 1.25% rate at their regular policy, Delgado pooh-poohed the very idea of any hike and went on to say;
“Inflation will bounce back, but for now the bank can hold at 1.25 percent,” Delgado said in a phone interview. “We won’t have any surprises like there were in Colombia.”
So, come 6pm and the Peru Central Bank decision was;
May 6 (Bloomberg) -- Peru’s central bank unexpectedly raised its benchmark lending rate by a quarter percentage point as economic growth this year is expected to surpass all of its Latin American neighbors. The seven-member board raised its reference rate to 1.50 percent, from 1.25 percent yada yada continues here

And thusly we learn that for all the airs, graces fancy job titles and rolodexability, Bertrand Delgado is just another dumbass in a suit. We therefore hand out some sound advice to the dude: