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BRAZIL: Guillen Says Must Conduct Policy to Bring Expectations Back

BRAZIL
  • Brazil Central Bank Director Guillen says external scenario has become a bit more benign.
  • Since the latest rate decision, we had the GDP surprise, which was led by consumption, and we have a tight labor market.
  • Inflation expectations haven't moved much, continued to be deanchored and keep us uncomfortable. We have to conduct monetary policy to bring inflation expectations back.
  • We saw stronger growth and the moves we were discussing in the previous policy meeting were persistent.
  • Committee did not want to provide guidance in data-dependent stance (All Reuters)

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