Brazil’s MPC hikes again, but signals possible end to tightening
After 50bp hike, BCB to assess “residual adjustment” to policy rate in September meeting
Brazil’s monetary policy committee (MPC) voted unanimously for a 50 basis point increase in the key Selic rate, taking it to 13.75%, on August 3.
The MPC said it was taking “monetary tightening significantly into even more restrictive territory”, given its “inflation projections and the risk of a deanchoring of long-term expectations”. But the Central Bank of Brazil’s (BCB) policy statement hinted that it might be near the end of its tightening cycle.
Despite the sharp tightening in financing
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