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MNI BCB Review - September 2021: "Further Into The Restrictive Territory”

Banco central de Brazil

Executive Summary

  • At the September 22 meeting, the Copom hiked the Selic Rate by 100 basis points to 6.25% in a unanimous decision.
  • This was in line with the expectations of most analysts surveyed by Bloomberg and market pricing, despite a small minority forecasting slightly bolder action.
  • While the Copom did not provide explicit details on the terminal rate, the committee indicated that under their baseline scenario it is appropriate to advance the tightening process "further into the restrictive territory".
  • The committee envisages a hike of the same magnitude in October.

Click to view the full review: MNI BCB Review - September 2021.pdf

HomepageLatAm Bank - ReviewAnalysisEM Central Bank ReportsEM Market AnalysisEM Central Bank ReviewEmerging Market NewsCentral Bank of Brazil - Review
HomepageLatAm Bank - ReviewAnalysisEM Central Bank ReportsEM Market AnalysisEM Central Bank ReviewEmerging Market NewsCentral Bank of Brazil - Review

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