Diego Labat on policy normalisation, capital flows and tech challenges
Uruguay governor speaks about financialisation, flexible rates vs controls, payment upgrades and CBDCs
You became interim governor in March 2020, at the height of the Covid-19 pandemic. How did the central bank cope?
I joined in March 2020, just as we experienced the first days of the pandemic in Uruguay. We had to quickly adjust our short-term actions to put monetary policy in on an expansionary footing and help sustain activity. We also took a series of measures in the financial system that would allow banks to be part of the solution to the crisis – so facilitating refinancing and other
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