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BCB: Brazil Hikes Rates By 100bps, As Expected, With More To Come

BCB
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The BCB hiked rates by 100bps, as expected by the economic consensus. This takes the policy rate to 13.25%. 

The BCB noted in its statement: "In light of the continuation of the adverse scenario for inflation convergence, the Committee anticipates another adjustment of the same magnitude in the next meeting, if the scenario evolves as expected. Beyond the next meeting, the Committee reinforces that the total magnitude of the tightening cycle will be determined by the firm commitment of reaching the inflation target and will depend on the inflation dynamics, especially the components that are more sensitive to monetary policy and economic activity, on the inflation projections, on the inflation expectations, on the output gap, and on the balance of risks." See the full statement here.  
 

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The BCB hiked rates by 100bps, as expected by the economic consensus. This takes the policy rate to 13.25%. 

The BCB noted in its statement: "In light of the continuation of the adverse scenario for inflation convergence, the Committee anticipates another adjustment of the same magnitude in the next meeting, if the scenario evolves as expected. Beyond the next meeting, the Committee reinforces that the total magnitude of the tightening cycle will be determined by the firm commitment of reaching the inflation target and will depend on the inflation dynamics, especially the components that are more sensitive to monetary policy and economic activity, on the inflation projections, on the inflation expectations, on the output gap, and on the balance of risks." See the full statement here.