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Deja Bù: Mark reconnects with Jessica Harnois, founder Bù Wines | SaltWireBRASILIA - Brazil's central bank said on Tuesday that there remains a substantial journey ahead to bring inflation back to the official target, stressing it has ignited a wide-ranging discussion on the increasingly challenging external scenario.
One of its members stressed that this scenario introduces an asymmetric upward bias in the balance of risks for inflation. Last week, policymakers emphasized an"adverse" external backdrop for emerging economies, but still anticipated further cuts of the same size for the next meetings. Following the outbreak of the Israeli-Hamas conflict, the bank noted that the exchange rate and the oil price have had moderate changes so far, despite the severity of such events and"the substantial movement in the prices of international assets".
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