Pantheon Macroeconomics - The key message of the minutes of the Copom meeting, released yesterday, is that policymakers remain worried about the inflation outlook and, in particular, about uncertainties surrounding fiscal tightening. But the Committee reinforced the signal that the Selic rate is likely to remain at the current level, 14.25%, for a "sufficiently prolonged period". The economy is in a severe recession and the rebalancing process has been longer and more painful than the Central Bank anticipated.

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30 Oct. 2015 Brazil's Central Bank Minutes Underline Policymakers' Problems

By Andres Abadia

The key message of the minutes of the Copom meeting, released yesterday, is that policymakers remain worried about the inflation outlook and, in particular, about uncertainties surrounding fiscal tightening. But the Committee reinforced the signal that the Selic rate is likely to remain at the current level, 14.25%, for a "sufficiently prolonged period". The economy is in a severe recession and the rebalancing process has been longer and more painful than the Central Bank anticipated.

Posted: 2nd Nov 2015 in 'Latin America Documents'

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Keywords for: Latin America Documents | 30 Oct. 2015 Brazil's Central Bank Minutes Underline Policymakers' Problems

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