Brazil: COPOM minutes to show increasing importance on non-growth dynamics - TDS

Analysts at TD Securities suggest that in Brazil, today’s release of COPOM minutes will likely show a BCB that is placing increasing importance on non-growth dynamics insofar as future policy moves are concerned.

Key Quotes

“The central bank's policy decision last week suggested that external volatility (and the impact on BRL) and the progress towards pension reform are increasingly important considerations, as the central bank moves closer to the start of the hiking cycle.”