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BCB's Kanczuk Not Pre-Committing to 75bps Hike

BRAZIL
  • BCB Director Fabio Kanczuk states that he is not committing to any pre-ordained policy, citing the bank's inflation-driven reaction function over and above any response to fiscal dominance.
  • BRL remains firmer on the session, pressing USD/BRL through yesterday's lows as well as the 50-dma at 5.5430 to expose the next support at 5.4977, the 50% retracement of the 2021 range.
  • Next BCB rate decision due on May 5th.

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