COPOM Watch: The flight of the falcons

BRAZIL ECONOMICS - Report 09 May 2024 by Alexandre Schwartsman, Cristina Pinotti, Paula Magalhães and Diego Brandao

As expected, the Monetary Policy Committee (COPOM) reduced the target SELIC rate by only 25 basis points at the last meeting, from 10.75% to 10.50%. However, the decision was not unanimous: all the Central Bank directors appointed by Lula voted to continue the cuts of 50 basis points per meeting, although their reasons are not specified in the communiqué.

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