With external and internal uncertainties alleviated, Copom maintains the scenario of the monetary policy cycle
Copom’s minutes confirmed our calibration of smoothing the pace of interest rate cuts at the end of the cycle. And the Quarterly Inflation Report, in turn, brought the Central Bank’s projections – which remained unchanged.
The IPCA-15 for March pressured assets by registering a rise in underlying services in the seasonally adjusted metric – in line with our projection. However, we will continue to monitor the behavior of yields in the labor market.
For more information, please check our Weekly Report 57.
