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BCB Chief Sees Limited Upside From Providing Forward Guidance Past January

BRAZIL
  • According to Brazil’s central bank chief, beyond flagging Selic rate cuts of 50bps for each of the next two meetings, Campos Neto does not see any gains in indicating future steps beyond that. Speaking at an event hosted by Bradesco Asset Management, he said policymakers would use these upcoming policy meetings, in December and January, to assess multiple variables, including progress in Congress on measures to stabilize the country's public finances.
    • "We understand that signalling much more than this has no expected value given so much uncertainty that exists, both globally and locally," he said.
    • Campos Neto reiterated the central bank's commitment to a restrictive terminal interest rate within the easing cycle. (RTRS)
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