Economic news

Brazil’s central bank warns of extended rate-hike cycle if inflation expectations worsen

2024.11.12 06:36

© Reuters. FILE PHOTO: A drone view shows the Brazilian central bank's headquarters during sunset in Brasilia, Brazil, June 11, 2024. REUTERS/Adriano Machado/File Photo

BRASILIA (Reuters) – Brazil’s central bank said on Tuesday that further deterioration in inflation expectations could extend the monetary tightening cycle, with its policy conduct remaining “a fundamental factor” in steering expectations back towards the 3% target.

In the minutes from the Nov. 5-6 meeting, when policymakers accelerated the tightening pace with a 50 basis-point hike that pushed rates to 11.25%, the central bank noted that recent concerns over rising public spending and the sustainability of the country’s fiscal framework have significantly impacted asset prices and market expectations.



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