Brazil adopts new inflation targeting mechanism
Authorities must now give 36 months’ notice of new target rather than setting it annually
Brazil will adopt a new inflation targeting mechanism starting in January 2025, according to news agency reports. The new system will have a long-term target replacing the current system whereby it is set every calendar year.
In the new system, changes to the inflation target will have to be announced at least 36 months in advance. Currently the target for the year is decided by the national monetary council (CMN) every June. The central bank governor and the finance and planning ministers form
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