SAO PAULO (Reuters) - Brazil's annual inflation accelerated in mid-September to 5.00%, data from statistics agency IBGE showed on Tuesday, coming in ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSAO PAULO - Brazil's annual inflation accelerated in mid-September to 5.00%, data from statistics agency IBGE showed on Tuesday, coming in line with market expectations as the central bank signals it will maintain its current pace of monetary easing.
That is likely to further back the central bank's stance of cutting its benchmark interest rate at a pace of 50 basis points per meeting, despite government officials having suggested the bank could pick up the pace this year. Larger rate cuts would require substantial positive surprises in inflation, the central bank has said, and that is not what the mid-September figures showed.
He expects the board to then shift to smaller 25-basis-point steps, taking the key Selic rate to 9.5% by the end of 2024.
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