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Itau See Banrep Rates Unchanged Across Rest of 2023


Following Friday's unchanged Banrep rate decision, Itau write that:

  • As expected, the bank ended their tightening cycle at 13.25%. The overall message was that a period of evaluation will follow, waiting for the consolidation of the inflation convergence path and for inflation expectations to adjust before evaluating the possibility of lowering rates.
  • They now expect rates to remain on hold for the remainder of the year, with the bar high for rate cuts to occur in 2023.

MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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