06/19/2024 – 18:45
The Central Bank’s Monetary Policy Committee decided to maintain the basic interest rate at 10.50% per year, thus halting the consecutive drops in the Selic. The decision was already expected by the market due to uncertainties surrounding fiscal policy.
In the statement, the BC stated that the downward cycle was interrupted due to the uncertain global scenario and the domestic scenario marked by “increased inflation projections”, without giving further clues about the decisions that will be taken at the next meetings.
“The current situation, characterized by a stage of the disinflationary process that tends to be slower, an increase in the de-anchoring of inflation expectations and a challenging global scenario, demands serenity and moderation in the conduct of monetary policy. Monetary policy must remain contractionary for a long enough time at a level that consolidates not only the disinflation process but also the anchoring of expectations around its goals”the statement said.
The decision was taken unanimously. The following members of the Committee voted for this decision: Roberto de Oliveira Campos Neto (president), Ailton de Aquino Santos, Carolina de Assis Barros, Diogo Abry Guillen, Gabriel Muricca Galípolo, Otávio Ribeiro Damaso, Paulo Picchetti, Renato Dias de Brito Gomes and Rodrigo Alves Teixeira.
#stops #cuts #maintains #Selic #year #pressure #Lula