Brazil Central Bank Welcomes Slowing Inflation But Won’t Act Yet
- Better-than-forecast inflation data boosted bets on rate cuts
- Bank chief wants to see downward trend before easing rates
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Brazil central bank chief Roberto Campos Neto told investors he was encouraged by this week’s inflation print but wants to see a downward trend before altering course, according to three people familiar with the conversations.
Policymakers are waiting for long-term inflation expectations to fall before they begin to ease interest rates, Campos Neto said at a Wednesday event held by XP Investimentos SA, according to the people present, who requested anonymity to discuss his presentation. The talk occurred alongside the International Monetary Fund’s spring meetings in Washington.