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Committee Says Low Probability Of Increasing Easing Pace

BRAZIL
  • On the 50BP easing pace: “This pace brings together, on the one hand, the firm commitment with the reanchoring of expectations and the disinflationary dynamics and, on the other hand, the adjustment in the level of monetary tightening in real terms in face of the more benign dynamics of the anticipated inflation in the reference scenario projections. Copom also evaluated that there is no evidence of an ongoing monetary tightening beyond that necessary for the inflation convergence to the target, and the scenario still calls for caution, reinforcing the view of serenity and moderation that Copom has expressed.”
  • “The Committee judges that there is low probability of an additional intensification in the pace of adjustment, since this would require substantial positive surprises that would raise even further the confidence in the prospective disinflationary dynamics.”
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