Campos Neto on inflation targeting, independence and the future of financial intermediation
BCB governor discusses financial autonomy, open finance, programmable Pix and deposit tokenisation
Why did the Central Bank of Brazil move so quickly and aggressively to raise interest rates in 2021? Was it due to Brazil’s relatively poor record in tackling inflation over the past few decades? Or were there other factors at play as inflation picked up in the aftermath of the Covid-19 pandemic?
This answer has different dimensions. One is that when we first analysed the effects of the Covid-19 pandemic, we thought we would probably face a major recession. I remember at meetings with central
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