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Copom Minutes From June Meeting Released

BRAZIL
  • Copom June Minutes Released: https://www.bcb.gov.br/en/publications/copomminutes
  • Key paragraph here regarding signals to extend the tightening cycle:
  • "Given the persistence of the recent shocks, the Committee evaluated that only the perspective of maintaining the Selic rate for a sufficiently long period would not assure, at this moment, the convergence of inflation around the target in the relevant horizon. The Committee then chose to signal a further adjustment, of equal or smaller magnitude. This strategy was deemed more appropriate to ensure the convergence of inflation over the relevant horizon, as well as the anchoring of longer-term inflation expectations, while reflecting the already implemented monetary tightening, reinforcing the cautious monetary policy stance, and emphasizing the uncertainty of the scenario."

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