Brazil | COPOM still sees 2016 inflation above 4.5%; monetary tightening to continue ahead
Published on Wednesday, June 24, 2015
Brazil | COPOM still sees 2016 inflation above 4.5%; monetary tightening to continue ahead
Summary
The 2Q15 Inflation Report revealed that the COPOM expects inflation to close 2015 at 9.0%, decline to 4.8% at the end of 2016 and converge to the 4.5% target only in 2Q17. As its focus is on taking inflation to the target by the end of 2016, its forecasts suggest it will continue tightening monetary policy ahead. We now expect another 50bp hike of the Selic rate in July.
Geographies
- Geography Tags
- Brazil
- Latin America
Topics
- Topic Tags
- Macroeconomic Analysis
Authors
Enestor Dos Santos
BBVA Research - Principal Economist