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23 Sept 2022 LatAm Monitor A Divided COPOM Ends the Hiking Cycle with a Hawkish Tone

Andres Abadia (Senior International Economist)22nd Sep 2022 13:43Latin America, Daily Monitor

Brazil’s COPOM ends the tightening cycle, as inflation is finally cooling, thanks mainly to tax cuts...
...But it was a split and hawkish decision, and rate cuts won’t be on the table anytime soon.
Inflation pressures persist in Mexico, particularly at the core level, but not for much longer.

banxico brl commodity prices copom core rate current inflation domestic demand downside risks electricity energy fiscal policy food prices government inflation expectations inflation forecast inflation picture inflation pressures interest rates labour monetary policy mxn natural gas policy policymakers q2 rate cut rate cuts selic rate services prices surveys tax cuts

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