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Copom Minutes Suggest Current Pace Of Tightening Appropriate

BRAZIL
  • The link to the full September Copom Minutes is here: https://www.bcb.gov.br/en/publications/copomminutes
  • Passages suggest current pace of adjustment seems likely scenario:
    • "…simulations with interest rate hikes that assume different terminal rates suggest that the current pace of adjustment is sufficient to reach a significantly restrictive level and to ensure the convergence of inflation to the target in 2022"
    • "Copom concluded that, at this moment, maintaining the current pace of adjustment coupled with the extension of the magnitude of the process of monetary tightening to a significantly restrictive level is the most appropriate strategy for assuring the convergence of inflation to the 2022 and 2023 targets."
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