Brazilian government must respect central bank independence – IMF
IMF directors warn against excessive exchange rate interventions
The Brazilian government must respect the independence of the country’s central bank, and not put it under pressure to intervene in foreign exchange markets, say directors from the International Monetary Fund.
“Monetary policy should respond to movements in the exchange rate only insofar as there are risks for inflation expectations,” the IMF directors say in in a statement released on July 11. “In this context, [the] directors underscored the importance of central bank independence.”
Brazil
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