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BRAZIL: Galipolo Remains Satisfied With His Comments, Talks on CPI Expectations

BRAZIL
  • Brazil Central Bank Director Galipolo says there are people complaining that I might be talking too much about monetary policy, but I'll talk about the subject
  • There is no gradation or modulation in my recent speeches
  • I have been saying that I am satisfied with the interpretation of the messages that I have been trying to convey
  • When I say this, I do not mean that I am endorsing expectations for monetary policy or pricing in interest rate futures
  • I respectfully disagree with those who interpret that especially my recent statements may have put the central bank in a corner
    • Potentially referring to yesterday, where the CEO and CIO of Verde Asset Management said that Galipolo ‘went too far’ in his hawkish statements when he mentioned that interest rate hikes are on the table, which places the BCB in a “corner”.
  • Unanchored inflation expectations bother us a lot (Reuters)

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