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BCB's Galipolo Says Copom Minutes Reaffirm Cohesion Inside The BCB

BRAZIL
  • Remarks from BCB Director Galipolo are hitting the wires, with the board member affirming his agreement with the central bank's hawkish messaging in its minutes, published earlier.
  • Galipolo says that the minutes fully represent what he is thinking and that they reaffirm cohesion inside the central bank.
  • He reiterates that the BCB is committed to the inflation goal and that the easing cycle has been interrupted, given significant changes in FX and a higher risk premium in Brazil and peers. Interest rates need to be restrictive to hit the inflation goal, he says.
    • "GALIPOLO: MINUTES REAFFIRM COHESION INSIDE BRAZIL CENTRAL BANK"
    • "GALIPOLO: MINUTES FULLY REPRESENT WHAT I AM THINKING"
    • "GALIPOLO: WE ARE INTERRUPTING BRAZIL EASING CYCLE" - BBG
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