Economic news
“Time will tell”, says Brazil’s central bank director on future rate hike
2022.05.16 19:01
A man walks in front the Central Bank headquarters building in Brasilia, Brazil March 22, 2022. REUTERS/Adriano Machado/File Photo
BRASILIA (Reuters) – Brazil’s central bank Monetary Policy Director Bruno Serra said on Monday that policymakers have already signaled a likely interest rate hike in June, and that from now on “time will tell”.
Speaking at a conference hosted by Goldman Sachs (NYSE:GS), he stated that maintaining high interest rates for a longer period is a “proper” cycle smoothing strategy when possible, rather than raising ant then decreasing rates.
