MNI BRIEF: 100BP Hiking Pace "Is Set" - BCB Deputy Guillen
MNI (BRASILIA) - The Central Bank of Brazil's Deputy Governor for Economic Policy Diogo Guillen reinforced on Monday the BCB’s forward guidance of 100-basis-point hikes at the next two meetings, but said the board is monitoring upcoming data.
"I believe the guidance is set. Obviously, we will continue monitoring activity and inflation data, as well as their impact on the forecasts. I think these are very relevant topics for us. For the next meeting and for all meetings, we will be keeping an eye on that," Guillen told an event sponsored by Bradesco Asset.
The BCB decided to accelerate the pace of its rate hikes, raising the official Selic rate by 100 basis points to 12.25% last month. The board also signaled additional hikes of the same size at the next two meetings. (See MNI INTERVIEW: Brazil Experiencing Confidence Crisis - Pires)