BCB's Galipolo (incoming governor) says fiscal package is being digested, it seems to be a high level of consensus for fiscal measures; debate on income tax reform will probably happen over the next year
- Current inflation figures and inflation expectations are a source of great discomfort and dissatisfaction to the entire BCB board.
- Economy has been proving to be more heated than expected.
- Through various metrics they can also notice a buoyant job market.
- Central bank action to start raising rates is an attempt to re-anchor expectations and pursue the inflation target.
- Exchange rate is very important to absorb shocks.
- Central Bank doesn't target any level of exchange rate and does not aim to defend any level; acts on market dysfunctionality only.
- Brazil's Galipolo says credit growth without effective productivity gains demands caution.
- Central bank discussed possible dysfunction in the FX market.
29 Nov 2024 - 16:16- - Source: Newswires
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