The Monetary Policy Committee (COPOM in Spanish) consists of the three Board of Directors members and three other senior officers appointed by the Board according to their specific tasks in monetary policy.
The Committee serves the following functions:
a) Provides advice to the Board for determining monetary policy guidelines and parameters.
b) Monitors and evaluates the money market, the short term macroeconomic situation and the financial program.
The COPOM meets after the Macroeconomic Coordination Committee, which is composed of the Minister of Economy and Finance, two officials appointed by him, and the three members of the Board of Directors of the Central Bank of Uruguay.
The roles of this Committee are:
a) To share information related to the Central Bank's responsibilities and the economic policy in general.
b) To establish the price stability target and the exchange-rate regime undertaken by the Bank.