Federal Reserve Chairman Ben Bernanke on Monday praised Mexico’s central bank for reining in inflation and keeping financial crises at bay.

In a speech that made no reference to the current outlook for the U.S. economy or monetary policy, Bernanke said transparency and independence had been key to increasing stability in the Mexican economy.

“The changes to the monetary policy framework, along with greater fiscal discipline and the adoption of a more flexible exchange rate, soon bore fruit,” Bernanke said in prerecorded video to be aired at a celebration of 20 years of Mexican central bank independence, in Mexico City.

via Bernanke touts strides in Mexico’s monetary policy | Reuters.