Brazil’s Tombini says ‘we still do not fully understand’ macro-prudential tools
Alexandre Tombini, governor of the Central Bank of Brazil, has said central banks still have a lot to learn about the use of macro-prudential policies, creating threats to credibility in the short term.
Addressing a summit for central banks on the topic of inflation targeting, Tombini said emerging markets had demonstrated a "pragmatic" separation between monetary and macro-prudential policies in the post-crisis world.
"This pragmatic policy mix might be effective, but is not without costs
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