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Brazil: High Expenditure Levels Challenge Fiscal Stability

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<ul><li>Brazil's Copom raised the Selic rate by 25bps to 10.75%, in line with expectations, to counter persistent inflationary pressures amid stronger-than-expected domestic economic activity.</li><li>Inflation expectations for 2024 and 2025 remain elevated, and Copom sees asymmetric risks, particularly from resilient services inflation, currency depreciation, and global uncertainties.</li><li>Future rate adjustments will depend on inflation dynamics, expectations, and the global economic landscape, with the Committee committed to maintaining a contractionary stance to ensure inflation convergence toward its target.</li></ul><div><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></div>

Brazil's Copom raised the Selic rate by 25bps to 10.75%, in line with expectations, to counter persistent inflationary pressures amid stronger-than-expected domestic economic activity.Inflation expectations for 2024 and 2025 remain elevated, and Copom sees asymmetric risks, particularly from resilient services inflation, currency depreciation, and global uncertainties.Future rate adjustments will depend on inflation dynamics, expectations, and the global economic landscape, with the Committee committed to maintaining a contractionary stance to ensure inflation convergence toward its target.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Brazil Policy Rate 10.75% (consensus 10.75%) in Sep-24