O Globo: 06/21/2022
According to Andrea Damico, Armor Capital’s chief economist, the Copom minutes were not that hawkish, because the Central Bank signed more than once that it will likely end the tightening cycle in August, such as the indication that the prices have not been totally affected by previous Selic rate increases.
“Central Bank see higher interest rates for a longer period.”
The Brazilian Central Bank evaluates that measures to reduce fuel prices may diminish inflation this year but would increase it in 2023.
The Copom minutes released this Tuesday showed that the Central Bank evaluates that the interest rate needs to remain higher for a longer period to achieve the inflation convergence to around the target in 2023.
