Valor Investe: 07/02/2023
Positive signalization to the Finance Ministry, but maintaining its independence
The Copom (Monetary Policy Committee) tried to send a positive message to the Finance Ministry in the minutes released last week but reinforced its view. “The Brazilian Central Bank (BCB) tried to indicate that it has aware of the ministry advances, especially considering that it explicitly mentioned the Finance Ministry proposals as a vector of fiscal risks reduction, says Armor Capital chief economist Andréa Damico.
Brazilian Central Bank minutes reinforce the Selic cuts postponement scenario
According to analysts, the document referred to Lula’s administration in a conciliatory tone but also tried to respond to the critics.
As indicated by the hawkish tone of the statement last week, the Copom minutes released this Tuesday morning confirms that the Selic rate might continue at this current level for a long time. Last Wednesday, the Committee decided to keep the basic interest rate at 13.75% per year.
